Interest rates are lower than they ve been in a generation.
The agents also may not realize that they must be licensed as securities brokers with state securities regulators to sell securities. The New Mexico Securities Division recently issued a Cease and Desist Order against an Indiana firm, Yucatan Investment Corporation, and its local sales agents alleging that the firm had failed to comply with the registration and licensing provision of the New Mexico Securities Act. The firm has asked for a hearing. If a firm sells securities in violation of the securities laws, it must offer to repay all of the investors. He went on to observe that one of the local sales agents for Yucatan, Angelo E. Garcia, had recently pled guilty to embezzlement in an unrelated matter involving the sale of an insurance product.