Amy Lynch sees new elder protection rule putting firms in corner (IGNITES – Subscription Req’d)
FrontLine Compliance
A recent lawsuit challenging Fidelity’s reliance on FINRA’s new elder protection rule reveals the challenges posed to firms interpreting the application of the rule. FINRA Rule 2165, Financial Exploitation of Specified Adults, permits a firm that reasonably believes that financial exploitation has occurred, is occurring, has been attempted or will be attempted to place a temporary hold on the account of the affected customer. FrontLine Compliance President Amy Lynch explains that firms are challenged by…
