FOR IMMEDIATE RELEASE:
March 22, 2012
Contact:
AARP Media Relations
202-434-2560
AARP: JOBS Act Lacks Vital Investor Protections
Washington, DC – AARP Senior Vice President Joyce Rogers issued the following statement today in response to the Senate passage of the “JOBS” Act:
“Despite a successful amendment to a provision of the bill pertaining to crowd funding, AARP remains disappointed that the ‘JOBS’ Act passed by the Senate today lacks vital investor protections and undermines regulations that guard against fraud and abuse. We do not believe weakening investor protections and opening the door to fraud is the best way to create jobs. Without safeguards for proper oversight and regulation, this legislation would heighten the risk to individual investors and threaten market integrity.
“On behalf of older Americans, who with a lifetime of savings and investments are disproportionately represented among the victims of investment fraud, AARP would have liked to see the Senate adopt a more balanced approach. Investors still reeling from the most recent financial crisis deserve better.”
AARP is a nonprofit, nonpartisan organization with a membership that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for 50+ Americans and the world’s largest-circulation magazine with over 35.1 million readers; AARP Bulletin, the go-to news source for AARP’s millions of members and Americans 50+; AARP VIVA, our bilingual multimedia platform for Hispanic members; and our website, AARP.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
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