FINRA Proposal Protects Elderly
FINRA filed a proposed rule with the SEC in an effort to protect elderly investors from financial exploitation. The proposed rules would 1) require Firms to make a reasonable effort to obtain the name and contact information of a trusted member of an elderly client’s family before authorizing a suspected trade; and 2) permit Firms to place a temporary hold on funds or securities where there’s a reasonable belief of exploitation or fraud. Read More.