The Texas State Securities Board (“TSSB”) has announced its top investor threats, with cryptocurrency and digital assets topping the annual list.
As detailed in a TSSB news release:
“TSSB revealed that investments related to cryptocurrencies and digital assets are our top investor threat. Stories of ‘crypto millionaires’ attracted some investors to try their hand at investing in cryptocurrencies or crypto-related investments this year, and with them, many stories of those who bet big and lost big began appearing, and they will continue to appear in 2022.
The top 2022 threats were determined by a survey of securities regulators conducted by the North American Securities Administrators Association (NASAA). The annual survey is designed to identify the most problematic products, practices, or schemes facing investors. The following were cited most often by state and provincial securities regulators:
- Investments tied to cryptocurrencies and digital assets;
- Fraud offerings related to promissory notes;
- Money scams offered through social media and internet investment offers; and
- Financial schemes connected to Self-Directed Individual Retirement Accounts.
Fishman Haygood’s team of investment fraud lawyers represent investors who have suffered investment losses in claims against their brokers or financial advisors and the firms employing/supervising them relating to claims of fraudulent activity and financial schemes.
If you believe that you may have suffered financial losses due to the misconduct of a financial professional, we may be able to help. Please contact us to discuss your potential claim.
