Regulatory Notice 15-37

FINRA Requests Comment on Rules Relating to Financial Exploitation of Seniors and Other Vulnerable Adults

Comment Period Expires: November 30, 2015

Executive Summary

FINRA seeks comment on proposed rules addressing the financial exploitation of seniors and other vulnerable adults. FINRA is proposing: (1) amendments to FINRA Rule 4512 (Customer Account Information) to require firms to make reasonable efforts to obtain the name of and contact information for a trusted contact person for a customer’s account; and (2) the adoption of new FINRA Rule 2165 (Financial Exploitation of Specified Adults) to permit qualified persons of firms to place temporary holds on disbursements of funds or securities from the accounts of specified customers where there is a reasonable belief of financial exploitation of these customers.

The proposed rule text is available in Attachment A.

Questions regarding this Notice should be directed to:

  • James S. Wrona, Vice President and Associate General Counsel, Office of General Counsel (OGC), at (202) 728-8270;
  • Ann-Marie Mason, Director and Counsel, Shared Services, at (202) 728-8231; or
  • Jeanette Wingler, Assistant General Counsel, OGC, at (202) 728-8013.
The views, expressions, findings and opinions expressed in the comments on this Web page are solely those of the author(s) and FINRA accepts no responsibility for the content of the comments: 
DateCommenterFormat - Size
10/22/2015Ed RosPDF - 12.18 KB
10/23/2015Peter StoehrPDF - 11.58 KB
10/23/2015Leroy Hayden, Jr.PDF - 39.01 KB
10/23/2015Carolyn AndersonPDF - 11.4 KB
10/23/2015Harry RichPDF - 34.45 KB
10/24/2015Bill CoughlinPDF - 11.84 KB
10/25/2015Donald ChambersPDF - 35.57 KB
10/28/2015Gail LibermanPDF - 75.19 KB
11/11/2015Christian Financial Services LLCPDF - 95.94 KB
11/13/2015Joan GirdlerPDF - 8.31 KB
11/18/2015Peter ThomsonPDF - 34.87 KB
11/23/2015Howard University School of LawPDF - 23.81 KB
11/24/2015CFA InstitutePDF - 38.16 KB
11/24/2015NAELAPDF - 166.93 KB
11/24/2015Dan PisentiPDF - 43.14 KB
11/25/2015Commonwealth Financial NetworkPDF - 162.39 KB
11/25/2015Investment Company InstitutePDF - 112.65 KB
11/25/2015Georgia State University College of LawPDF - 301.99 KB
11/25/2015NAPSAPDF - 47.84 KB
11/27/2015Martin B. CowanPDF - 831.83 KB
11/30/2015Simcha Ben YaakovPDF - 55.59 KB
11/30/2015NAIFAPDF - 34.08 KB
11/30/2015The Alzheimer’s AssociationPDF - 137.87 KB
11/30/2015GWFS Equities, Inc.PDF - 73.55 KB
11/30/2015University of Miami School of LawPDF - 433.22 KB
11/30/2015Insured Retirement InstitutePDF - 800.24 KB
11/30/2015Bond Dealers AmericaPDF - 260.71 KB
11/30/2015PIRCPDF - 156.64 KB
11/30/2015Lincoln Financial NetworkPDF - 120.53 KB
11/30/2015Well Fargo AdvisorsPDF - 83.23 KB
11/30/2015AARPPDF - 270.98 KB
11/30/2015NASAAPDF - 66.81 KB
11/30/2015Cetera Financial GroupPDF - 1.3 MB
11/30/2015FIBAPDF - 473.96 KB
11/30/2015PIABAPDF - 265.39 KB
11/30/2015Financial Services RoundtablePDF - 1.71 MB
11/30/2015Sutherland Asbill & Brennan LLPPDF - 1.05 MB
12/2/2015SIFMAPDF - 354.16 KB
12/2/2015First U.S. Community Credit UnionPDF - 73.18 KB
12/4/2015Financial Services InstitutePDF - 122.68 KB