Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend FINRA Rule 8312 (FINRA BrokerCheck Disclosure) to allow the dissemination through BrokerCheck® of information already publicly disseminated through the SEC’s Investment Adviser Public Disclosure (“IAPD”) database about registered
FINRA Resources
Senior Investors Topic Page
FINRA Securities Helpline for Seniors
Regulatory Notice 19-36 (FINRA Requests Comment on a Proposed Rule to Limit a Registered Person from Being Named a Customer’s Beneficiary of Holding a Position of Trust for or on Behalf of Customer)
Regulatory Notice 19-27 (FINRA Requests Comment on Rules and Issues Relating to Senior Investors)
In 2019, FINRA assessed firms’ senior investor protection programs, including their implementation of the FINRA Senior Exploitation Rules. In particular, FINRA evaluated how firms addressed risks relating to senior investors in their policies and procedures; gathered trusted contact person information; developed training relating to senior investors; implemented systems to escalate financial
Currently, there are display issues with the OTC Transparency Data on the otctransparency.finra.org website for the weeks of March 23 and March 30, 2020. NMS Tier 1 data is being displayed on the NMS Tier 2 and OTCE tabs for both ATS and Non-ATS data sets.
Please note, all downloads and APIs are accurate for the weeks of March 23 and March 30, 2020.
FINRA is currently investigating the issue
Overview of FINRA Senior Exploitation Rules
The FINRA Senior Exploitation Rules provide firms with the tools to protect senior investors and help firms address risks relating to possible financial exploitation. FINRA Rule 4512 (Customer Account Information) requires firms to make reasonable efforts to obtain the name of and contact information for a trusted contact person upon the opening of a
In addition to the Helpline, FINRA has consistently focused on addressing concerns relating to senior investors. Our efforts have included rulemaking to provide firms with tools to address financial exploitation of seniors, guidance in FINRA publications, reviews of senior investor protection programs in our examinations, enforcement actions and collaboration with other regulators, as well as
Overview
FINRA launched the Helpline on April 20, 2015 to provide investors with access to specially trained FINRA staff who can assist senior and vulnerable adult investors with questions or concerns about their brokerage accounts and investments. As of December 31, 2019,5 the Helpline has received over 18,000 calls from all 50 states and several countries. Helpline callers range in age from 17
Seniors make up an increasingly large share of the American population1 and hold higher levels of wealth than other generations. These factors, among others, make seniors an attractive target for financial exploitation, with evidence suggesting that such exploitation has been increasing in terms of both scope and magnitude.
Stablecoins are digital assets that aim to manage volatility by tracking the values of more stable assets, such as fiat currencies like the U.S. dollar. Though the name might imply otherwise, stablecoins are not without risks for investors.
Monthly Disciplinary Actions April 2020
