Department of Insurance, Securities and Banking: December 20, 2005
DC Home Mayor DC Guide Residents Business Visitors DC Government Kids

Insurance, Securities and Banking


 DISB HOME

SERVICES

INFORMATION

NEWS ROOM
Press Releases
Articles
Orders
Regulations
Bulletins
Publications

2006 Monthly Listing
Jan
Feb
Mar
April 
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec

2005 Monthly Listing
Jan
Feb
Mar
April
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec

2004 Monthly Listing
Jan
Feb
Mar
April
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec

2003 Monthly Listing
Jan
Feb
Mar
April
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec

2002 Archives

2001 Archives

2000 Archives

Press Release







December 20, 2005

Regulators Urge Investors to Carefully Check Credentials of "Senior Specialists"

(Washington, DC) The Government of the District of Columbia Department of Insurance, Securities and Banking (DISB) today urged seniors to carefully check the credentials of individuals holding themselves out as senior specialists.

"Although there are legitimate organizations whose members must complete rigorous programs of study, pass extensive examinations, and have practical experience in order to receive their designations, a number of entities formed in the last few years have created designations with much less stringent requirements," said DISB Acting Commissioner Thomas E. Hampton. Without reviewing the course material for each of these designations, it is difficult to verify the claims made by the promoters.

"Individuals may call themselves senior specialists to create a false level of comfort among seniors by implying a certain level of specialized training on issues important to the elderly. But the training they receive is often nothing more than marketing and selling techniques targeting the elderly," Hampton added.

"These sales people and the alphabet soup of letters after their names can be confusing, and in some cases, may even be deceptive to seniors," Hampton said.

Page 1 of 2    Go To Previous Page  1  2  Go To Next Page