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. Schedule your free consultation to discuss what action may be taken in order to seek recovery of your losses.