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Awareness of senior financial fraud rises with incidence
Survey of state securities regulators says most cases are undetected until too late.
NASAA finds 90% of B-Ds have team or process to address senior-fraud issues
Nearly 2,300 suspected senior-fraud/exploitation cases reported by 61 firms in study.
Treasury calls on financial regulators to coordinate cybersecurity oversight
Highlighting 'fragmentation and overlap,' department suggests establishing one lead agency to align federal and state efforts.
Elder abuse prevention by advisers depends on their firms’ response to new rule
SEC approves Finra regulation to curb financial exploitation, but requirements are slim.
More states likely to approve senior financial abuse regulations
The North American Securities Administrators Association's model rule requires that financial advisers report suspected abuse to state and other authorities, allows them to stop disbursements from seniors' accounts and gives them protection from liability.
Get ready for more whistleblowers in the financial advice sector
The SEC and states like Indiana believe company insiders can provide better insights on fraud and wrongdoing than aggrieved investors can.
Finra proposes rule to prevent elder financial abuse
Measure requires brokers to establish trusted contacts on accounts and allows them to stop distributions in questionable circumstances.
State regulators reveal top enforcement targets and the price they pay
Agencies brought more cases against registered advisers than unregistered entities, and certain products featured in many of them.
Take 5: New NASAA leader Mike Rothman emphasizes collaboration, data analytics
Increasing collaboration is at the top of the agenda for the new president of the North American Securities Administrators Association.
State regulators say brokers must step up prevention of elder financial abuse
Coordinated exams in 20 states reveal need to improve policies, procedures to protect seniors.
SEC Chairwoman Mary Jo White says agency mulling fiduciary duty
Staff recommendations on a potential rule to raise retail investment advice standards are being considered by commissioners, but a proposal is not imminent.
Three states make elder-financial-abuse reporting mandatory starting Friday
Alabama, Indiana and Vermont will likely be joined by many states requiring adviser action against exploitation, while giving them immunity.
Senator Susan Collins enlists state regulators to pass bill to strengthen senior financial protection
The legislation is based on a program in her home state of Maine, where 50 referrals have been made on suspected abuse within two years.
Nebraska regulators off hook for targeting adviser with anti-Obama sentiments
But state agency says it is adjusting to court's admonishment on adviser's free speech rights.
State regulators offer training to help spot senior financial abuse
The North American Securities Administrators Association will make Senior$afe available to its members next month.
LPL to pay $1.4 million fine and return investor money for certain nontraded REIT sales
Broker-dealer agrees to a $1.4 million fine and will return investor money on approximately 2,000 sales of nontraded REITs. Firm also settles with states regarding leveraged ETFs.
State regulators, Finra, SIFMA propose fee disclosure model for brokers
State regulators, Finra, SIFMA say their approach would clarify charges to investors, yet commissions and advisory fees are left out of the plan.
State regulators work on uniform approach to elder financial abuse
New measures are aimed at encouraging brokers to notify authorities when they suspect someone is trying to scam one of their clients.
State officials to flag brokers with disciplinary history selling insurance
The National Association of Insurance Commissioners to launch program to inform state insurance officials about agents in their state who have a disciplinary history with Finra.
State regulators to require continuity plans
Individual states will need to adopt model rules outlining policies investment advisers should have in place in case of natural disasters or death.
