News & Analysis as of

Elder Abuse Financial Industry Regulatory Authority (FINRA)

Faegre Drinker Biddle & Reath LLP

Having a Senior Moment: Recent Legislation and Rules to Protect Seniors from Financial Exploitation

In recent years there has been a spate of legislation and rules passed to protect senior investors. Similarly, observers of FINRA’s and the SEC’s annual priorities will, of course, have noticed both bodies’ inclusion of elder...more

Faegre Drinker Biddle & Reath LLP

Further Protection for Good Samaritan Brokers: States and FINRA Continue the Push to Protect Senior Investors by Protecting...

Following the passage of last year’s federal Senior Safe Act, several states moved to beef up protections for senior investors by permitting brokers to act without liability. • Rhode Island’s Senior Savings Protection Act...more

UB Greensfelder LLP

The Securities Regulators All Have Senior-itis. Maybe For Good Reason.

UB Greensfelder LLP on

The securities industry’s concern over the aging of the U.S. population, specifically, aging investors, has, apparently, reached a fever pitch. On February 5th in New York, SIFMA hosted its “Senior Investor Protection...more

Carlton Fields

Two New FINRA Rules For The Protection Of Senior Investors

Carlton Fields on

The protection of senior investors continues to be a priority for FINRA, from both an examination and enforcement perspective. In fact, FINRA detailed how seniors are one of its major areas of concern in the last three...more

Saul Ewing LLP

Financial Exploitation of Elders is a National Crisis

Saul Ewing LLP on

Many publications report on the prevalence of elder financial abuse in our society. It can arise from misuse of powers of attorney, guardianships, and estate and trust administrations, as well as out and out scams. Many...more

Tonkon Torp LLP

Elder Abuse Prevention And Prosecution Act

Tonkon Torp LLP on

We previously talked about recent changes to Oregon law and FINRA rules relating to elder abuse prevention and the prosecution of financial services companies for noncompliance . This article focuses on The Elder Abuse...more

Tonkon Torp LLP

Vulnerable Person Abuse Protections Coming To FINRA In 2018

Tonkon Torp LLP on

Similar to the Oregon legislature's recent changes to ORS Chapter 59, intended to protect "vulnerable persons" against financial exploitation, FINRA has implemented changes to its rules effective February 5, 2018, intended to...more

Burr & Forman

FINRA Senior Protection Rules Effective Feb. 5

Burr & Forman on

A pair of FINRA Rule revisions designed to protect seniors from financial exploitation become effective February 5. The Rules require member firms to obtain “Trusted Contact Person” information and impose short...more

BCLP

New Rule Regarding Financial Exploitation of Seniors To Become Effective February 5, 2018

BCLP on

New FINRA Rule 2165 (Financial Exploitation of Specified Adults) and related amendments to existing Rule 4512 (Customer Account Information) become effective February 5, 2018. In connection with the approaching effective...more

Burr & Forman

New FINRA Rules Address Elderly Abuse

Burr & Forman on

On February 5, 2018, FINRA will enact two rules to assist brokers with addressing financial exploitation of the elderly. Statistically, the elderly have a 1 in 20 chance of being a victim of financial exploitation. ...more

Eversheds Sutherland (US) LLP

Sleuthing Through State Elder Financial Exploitation Laws - A Morass for Broker-Dealers

This legal alert is the first in a series addressing the ever-changing regulatory landscape relating to senior investors, state law, and a broker-dealer’s legal obligation, if any, to protect its vulnerable customers. We...more

Carlton Fields

Fraud-Free Sunsets: How Financial Professionals Can Deter Financial Elder Abuse in Florida and Reduce Their Own Liability Exposure

Carlton Fields on

Investment advisers, securities brokers, and other financial professionals who work directly with clients who are age 60 and older have two reasons to learn more about Florida’s financial elder abuse laws....more

Stinson LLP

SEC Approves New Rules Enabling Financial Advisors to Defend Vulnerable Clients from Exploitation

Stinson LLP on

Financial exploitation of aging and mentally diminished investors by family members and third parties is on the rise. With America's senior population growing rapidly, this problem may only get worse. More than half of all...more

Carlton Fields

Expect Focus - Volume I, March 2017

Carlton Fields on

Regulators Demand Third-Party Risk Management - While third-party risk management has been a required component of an effective enterprise risk management program for many years, the topic is receiving elevated attention...more

Fox Rothschild LLP

Elder Abuse Takes Another Twist and Turn

Fox Rothschild LLP on

If you thought the SEC and FINRA were serious about elder issues, welcome to the Alabama, Indiana and Vermont. Each has focused on elder abuse issues. These states will have mandatory reporting to state officials in...more

Holland & Knight LLP

FINRA Proposal Lets Financial Firms Hold Funds of Elder Abuse Victims

Holland & Knight LLP on

The Financial Industry Regulatory Authority (FINRA) will soon be soliciting public comment on a proposal allowing financial institutions to put a hold on customer funds and notify a customer's "trusted contact" when the...more

Broker-Dealer Compliance + Regulation

FINRA to Propose Action on Exploitation of Elderly Investors

On September 17, 2015, FINRA announced that it would propose rules to help member firms protect seniors and other vulnerable adults from financial exploitation. The proposal would create a safe harbor enabling broker-dealer...more

Morrison & Foerster LLP - Structured Products

Structured Thoughts: News for the financial services community, Volume 6, Issue 3

In This Issue: - The National Senior Investor Initiative - SEC Commissioner Addresses Structured Notes - The SEC Defines “Voting Equity Securities” Under the Rule 506(d) Bad Actor Disqualification Rules ...more

18 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide