FSI Webinar: Varying Regulatory Requirements for Senior Investors & Firms’ Compliance Practices
Date(s) - 08/03/2017
Brandon Reif and Ben Biard of Winget, Spadafora, & Schwartzberg, LLP will provide an update on FINRA Rule 2165 and the amendments to FINRA Rule 4512 that go into effect on February 5, 2018. FINRA Rule 2165 (Financial Exploitation of Specified Adults) permits members 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 amendments to FINRA Rule 4512 (Customer Account Information) require members to make reasonable efforts to obtain the name and contact information for a trusted contact person for a customer’s account. Mr. Reif and Mr. Biard will further address the best practices for member firms in implementing procedures to comply with these rules and other best practices for brokerage firms when it comes to dealing with senior investors.