Phishing Campaign Advisory
This message is to advise you of a new phishing campaign targeting broker-dealers and investment advisers impersonating FINRA executives and using the domain “@broker-finra.org.” This is not a FINRA domain. DO NOT OPEN ANY EMAILS ORIGINATING FROM THIS DOMAIN. The emails request immediate attention to an attachment purportedly relating to the firm (but, at least in some cases, do not actually include the attachment). Additional information is available in FINRA’s Regulatory Notice 20-12: FINRA Warns of Fraudulent Phishing Emails Purporting to be from FINRA, which is available at the following link: https://www.finra.org/rules-guidance/notices/20-12COVID-19 Guidance for Agent Applications and Required Fingerprints
**Notification** The Idaho Uniform Securities Act—Draft changes to the Idaho Uniform Securities Act affecting broker-dealers, agents, investment advisers, and representatives are available for review. All proposed changes involve updates to currently outdated cites to the Securities Exchange Act of 1934, the Securities Act of 1933, and the Investment Advisers Act of 1940. No new requirements will result from these updates. If you would like a copy of the draft changes, please email Patricia Highley.
Through the authority of Idaho’s Uniform Securities Act (2004) and the Idaho Commodity Code, the Securities Bureau of the Department of Finance regulates the sale of investment securities (e.g., stocks and bonds) and those individuals and entities that offer investment opportunities to the public.
Uniform Securities Act (2004)
Idaho’s Uniform Securities Act (2004) seeks to preserve and promote legitimate securities markets by assisting companies in their attempts to raise capital and prevent investment fraud. While the Act is designed to protect investors from fraud, it does not protect investors from the possibility of investment loss resulting from securities price movements, market changes or business failures. The Act requires that persons who solicit investments provide complete disclosure of all the important aspects of the investment being promoted. With this information, investors are empowered to make reasoned investment decisions.
Idaho Commodity Code
The Idaho Commodity Code is designed to reduce fraud by outlawing certain commodity investment contracts where the investor never receives delivery of the commodity. The law does not create a separate regulatory system. Rather, the statute provides an enforcement tool that relates to types of investment fraud not covered by Idaho’s Uniform Securities Act (2004).
Corporate Takeover Acts
In addition, the Securities Bureau of the Department of Finance has limited duties under Idaho's corporate takeover Acts. In 1988, the Idaho Legislature adopted the Control Share Acquisition Act and the Business Combination Act to govern certain corporate mergers in Idaho. The first law gives shareholders more authority to decide the terms of a takeover and the second allows a corporation to limit the effects of a takeover.
Securities Section Online Resources:
- Administrative Enforcement Actions
- Civil Enforcement Actions
- No-Action and Opinion Letters
- Statutes and Rules
- Application Requirements and Forms
- Application Fees: Word
- Check registration/ disciplinary history of stock broker or investment adviser
- File a securities complaint
- Help for Small Business in Capital Formation
- Securities FAQ
General Investment Information/Education:
- Idaho Biz Help
- Understanding Your Brokerage Account Statements Brochure: PDF or in Spanish
- When Your Broker Calls Take Notes: Word | PDF
- A Consumers Guide to Making Venture Investments in Small Businesses: Word | PDF
- Investor Links for more information on other websites
- The Basics of Savings and Investing: Investor Education 2020
- Cutting through the confusion - Where to turn for help with your investments: PDF