New FINRA Rules in Force This Week to Protect Senior Investors

Subscriber Content
Screenshot of the first page of New FINRA Rules in Force This Week to Protect Senior Investors
By
Jill Smiley, Protiviti Director

In 2015, the Financial Industry Regulatory Authority (FINRA) established a Securities Helpline for Seniors, which highlighted certain issues investment firms were facing regarding senior investors. In response to the highlighted concerns, FINRA issued Regulatory Notice 17-11 in March of 2017, addressing financial exploitation of seniors. The new rules became effective on February 5, 2018 and affect all FINRA Member Firms.

This article takes a look at the amendments to Rule 4512 (Customer Account Information) and a new rule, Rule 2165 (Financial Exploitation of Specified Adults), then discusses what member firms should do to comply with them.

Free Trial

Sign up for a free, no-obligation trial to start exploring our timesaving, valuable resources.