From Red Flags to Real Results: How Regulators and Firms Stop Elder Financial Exploitation (Duration: 60 minutes)

This panel brings together regulators and FINRA member firms to explore how regulatory tools and firm-level action can work together to protect senior investors. Regulators share what they are seeing including common red flags, examination findings and expectations around documentation, escalation and reporting. FINRA member firms provide real-world success stories demonstrating how the Trusted Contact Person Rule and FINRA Rule 2165 have prevented harms, stopped scams and ultimately strengthened client relationships.

FINRA Speakers

• Rob Mascio, Director, Office of Investor Education, FINRA
• Kathleen Queally, Senior Principal Investigator, VAST, FINRA

External Speakers

• Tara Ambrose, Senior Fraud Ombudsperson, Enforcement Division, Minnesota Commerce Department Vice Chair, NASAA Senior Issues Committee
• Matthew Gavaghan, Associate General Counsel, Janney Montgomery Scott LLC
• Timothy Moyer,  Chief Compliance Officer, G.A. Repple & Co.

Resources:

FINRA Rule 2165: Financial Exploitation of Specified Adults
FINRA Rule 4512: Customer Account Information
FINRA Regulatory Notice 22-31: FINRA Shares Practices for Obtaining Customers’ Trusted Contacts
FINRA Regulatory Notice 26-02: FINRA Requests Comment on Rule Revisions to Help Member Firms Protect Senior Investors From Financial Exploitation and All Investors From Fraud
FINRA Threat Intelligence Product:  Protecting Vulnerable Adult and Senior Investors
Senior Investor Protection Resources for Broker-Dealers
Frequently Asked Questions Regarding FINRA Rules Relating to Financial Exploitation of Senior Investors
FINRA Unscripted Podcast – Protecting Investors:  FINRA Securities Helpline for Seniors’ 10th Anniversary