Brokers, brokerage firms, and others in the investment world are beginning
to worry that securities regulators’ concerns over senior financial
abuse could add more regulations and cost their businesses more money.
The states’ regulators are taking the lead on this issue, according
to the current president of the North American Securities Administrators
Association (NASAA). The goal for securities regulators in 2016 will be
to closely monitor sales abuse practices targeting senior citizens. The
Financial Industry Regulatory Authority (FINRA) is also making it a top
priority to protect senior citizen investors in 2016.
According to a
recent InvestmentNews article, broker-dealer executives have concerns over the regulator’s proposed
agenda adding more regulation and more cost to their businesses.
At Meyer Wilson, our securities fraud lawyers are dedicated to protecting
investors, especially seniors who are susceptible to investment fraud
and other misconduct. We recognize the concern on behalf of the brokers,
but we strongly believe that the protection of senior citizen investors
is important regardless of the regulation additions and added costs.
If you are a senior citizen investor who has been defrauded or your elderly
loved one lost money due to a fraudulent investment, call our firm today.
free consultation to discuss what action may be taken in order to seek recovery of your losses.