FINRA Advances Rules on Senior Exploitation, E-Signatures

The Financial Industry Regulatory Authority’s board has approved two rule proposals on financial exploitation of seniors and e-signatures.

At its September meeting, the board approved publishing a Regulatory Notice soliciting comment on proposed amendments to FINRA Rule 2165 (Financial Exploitation of Specified Adults).

The plan would permit extending the hold period in a case of suspected fraud if the member firm had reported the matter to a state regulator or agency or a court of competent jurisdiction; and placing temporary holds on transactions in securities when there is suspected financial exploitation.