Saving and Investing for Students

U.S. SECURITIES AND EXCHANGE COMMISSION
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Every time you buy or sell an investment you will receive a 
confirmation slip from your broker. Make sure each trade was 
completed according to your instructions. Make sure the buy-
ing or selling price was what your broker quoted. And make 
sure the commissions or fees are what your broker said they 
would be. 
Watch out for unauthorized trades in your account. If you 
get a confirmation slip for a transaction that you didn’t approve 
beforehand, call your broker. It may have been a mistake. If 
your broker refuses to correct it, put your complaint in writing 
and send it to the firm’s compliance officer. Serious complaints 
should always be made in writing. 
Remember, too, that if you rely on your investment profes-
sional for advice, he or she has an obligation to recommend 
investments that match your investment goals and tolerance 
for risk. Your investment professional should not be recom-
mending trades simply to generate commissions. That’s called 
“churning,” and it’s illegal.
How Can I Avoid Problems?
Choosing someone to help you with your investments is one 
of the most important investment decisions you will ever make. 
While most investment professionals are honest and hardwork-
ing, you must watch out for those few unscrupulous individu-
als. They can make your life’s savings disappear in an instant. 
Securities regulators and law enforcement officials can and 
do catch these criminals. But putting them in jail doesn’t always 
get your money back. Too often, the money is gone. The good 
news is you can avoid potential problems by protecting yourself. 
Make sure the investment professional and her firm are li-
censed and registered using the free database on Investor.gov.
You can find additional information by visiting the website 
of the North American Securities Administrators Association 
(NASAA) at www.nasaa.org or by calling [phone]. 

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