08.14.19
FINRA Seeks Feedback on Senior Protection Rules
by: Melanie Waddell
The Financial Industry Regulatory Authority reports it is conducting a review of recently adopted rules partly designed to help protect senior investors from financial exploitation. The rules are designed to protect investors, with particular emphasis on protecting vulnerable investors like seniors, many of whom are living on fixed incomes and budgets without the ability to offset significant losses over time or through other means. The broker-dealer self-regulator is seeking feedback by Oct. 8. After assessing broker-dealers' feedback, FINRA will consider appropriate next steps, which may include modifying the rules, updating, or issuing additional guidance.
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