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FINRA Increases Emphasis on Protection of Senior and Vulnerable Investors from Financial Exploitation

The SEC Examined 50+ RIAs Who Are Employing or Have Employed Individuals with a History of Disciplinary Issues and This is What They Found…
August 16, 2019
Finra-Rules-sec
SEC GUIDANCE ON RIA STANDARD OF CARE AND BROKER-DEALER EXEMPTION
September 10, 2019

In response to the recent increase in financial exploitation of seniors and other at risk investors, FINRA recently announced that it is conducting a review of the effectiveness and efficiency of its rules and administrative processes designed to help protect at risk investors from financial exploitation. The Notice primarily focuses on rules related to temporary holds on at risk customers’ accounts and on FINRA’s efforts to limit the potential for misconduct by registered persons in dealing with at risk investors. It also discusses various rule changes FINRA is considering in an effort to combat the potential for financial exploitation, including the possible addition of restrictions on registered persons servicing at risk customers’ accounts.

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