DOJ's Rosenstein Announces Interagency Consumer Fraud Task Force With SEC

Deputy Attorney General Rod Rosenstein with the U.S. Department of Justice (DOJ) has announced the establishment of an interagency task force targeting the prevention of consumer and market fraud, reports Financial Advisor . He said the task force will combine U.S. attorney's offices, DOJ departments, and enforcement agency partners to combat fraud targeting American citizens. "One of our first priorities will be to survey all of our members and identify areas of vulnerability to ensure that we devote appropriate resources to address them," Rosenstein noted. Securities and Exchange Commission Chairman Jay Clayton emphasized that deterring retail fraud and preserving and returning investors' money is essential to the agency, which will continue to focus on Ponzi schemes and the sale of unsuitable and complex products targeting seniors and unsophisticated investors. "This new task force on market integrity and consumer fraud will allow us to do even more in a coordinated way," Rosenstein pledged. "The president's order directs the task force to invite participation from our law enforcement agency partners in many departments and agencies. By working together, we can achieve more effective and more efficient deterrents."