Who is Protecting Our Investments?

If we're going to be money-savvy kids, we must know how to watch out for scams and frauds that will cause us to lose our hard-earned money. 

In this episode of the Cash Kid Podcast, we explore the importance of investment protection and scam prevention with Amanda Senn, the director of the Alabama Securities Commission. Learn about the role of the Securities Commission, real-world examples of its impact on preventing fraud, and how technology affects financial safety. Discover actionable tips on how to safeguard personal information, the significance of financial literacy, and the new financial education requirements for high school students. This informative episode aims to educate kids and adults alike on the essentials of financial protection and literacy.

 

Episode:

So, you got some cash, maybe from an allowance? Or, that money your grandma gave you for your seventh birthday.

 Here ya go, sweetie! Woo hoo! Thanks, Grandma! Whatever it is, what are you gonna do with it? Spend it? Hide it away? Or maybe invest it? Let's start learning how to make that money grow. Time to learn how to be a Cash Kid. 

Millions of dollars lost to fraudsters.

Scams across the states.

The elderly and kids are big targets.

Who is working to protect our investments?

And how can kids my age help stop these scams?

 

Plus, taking a financial course is now a graduation requirement in my state.

 

Yep.

 

We’ve got it all covered in this episode of the Cash Kid Podcast where we went on the road to talk with The Alabama Director of the Securities Commmission, Amanda Senn.

 

I personally, had no idea what this department in our state was doing for us everyday.

 

How there are people behind the scenes working to make sure only legitimate business is being conducted and stop fraudsters so we can protect our hard earned money.

 

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Alright, we traveled to Montgomery, Alabama to conduct this interview with Ms. Senn. So let’s jump right into it!

 

Cash Kid: Welcome to the show Ms. Senn. And first off, tell us a little bit about yourself.

 

Amanda Senn: Thank you, Cash Kid. I'm glad to be here. My name is Amanda Senn, and I've been with the Alabama Securities Commission for almost 16 years. Interesting fact, I started as an intern and worked my way up, became general counsel, deputy director enforcement and then last year, succeeded at the long time director,Joe Borg, as the director of this agency.

 

Cash Kid:  Yep, that's really interesting. So, what is a securities commission and why do we need it? 

 

Amanda Senn: So, a security is more than just a stock, a bond, a debenture. There are a laundry list of things that are covered, but it's essentially anything with a view toward an investment. So, you don't actually have to have a writing.

 

But, our agency enforces laws that, um, directly impact. People who sell securities and Those products that are considered securities. We also serve as a resource to our financial industry in the state. Ofte