FINRA is increasing the pace of investigations and enforcement actions against advisors who defraud older investors, according to the Wall Street Journal. FINRA's goal: to protect seniors against unscrupulous financial advisors who take their money, leaving them unable to support themselves financially.
According to Susan Merrill, FINRA's enforcement chief, FINRA investigation teams will have four months to complete their work. If they find wrongdoing and refer a case to FINRA's enforcement division, the case will cut to the head of the queue.
In the past, cases used to take several months to several years to get resolved. But that is likely to change as FINRA accelerates its efforts to identify and punish advisors who victimize senior investors.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
