OTHER NEWS - March 28, 1996
SEC to Poll Elderly on Fraud, Lawsuits: The survey will question elderly investors and retirement plans in an attempt to find out if they want more protection from securities fraud or frivolous lawsuits. The Securities and Exchange Commission survey was required in a new law that seeks to curb investor fraud lawsuits against companies and their professional advisors. Congress passed the bill in December over President Clinton’s veto. An SEC spokesman said the agency hopes to collect information that might be useful in devising a variety of administrative actions. The agency says it will conduct the survey through newspapers, newsletters and interest groups. The SEC plans to report its findings to Congress by June 19.
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