Regulatory Outlook | 09.21.20
FINRA Advances Rules on Senior Exploitation, E-Signatures
FINRA's board has approved rule proposals on financial exploitation of seniors and e-signatures. At its September meeting, the board approved publishing a Regulatory Notice soliciting comment on a plan that would permit extending the hold period in a case of suspected fraud if the member firm had reported the matter to a state regulator or agency or a court of competent jurisdiction; and placing temporary holds on transactions in securities when there is suspected financial exploitation. As to e-signatures, the board approved filing with the SEC proposed amendments to FINRA Rule 1010 to permit firms to obtain an e-signature on the Uniform Application for Securities Industry Registration or Transfer (Form U4).
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