FINRA Proposes Amendments to Rule 2165 in Effort to Prevent Financial Exploitation of Seniors
By EsqSocial Corporation 21/06/21
On June 9, 2021, FINRA announced a proposed rule change to amend Rule 2165 (Financial Exploitation of Specified Adults). The amendments would make two changes to the rule that was implemented just over three years ago. First, the rule change would extend by 30 business days a temporary hold if the member firm has reported the matter to a state regulator or agency or a court of competent jurisdiction. This change would more than double the potential hold period from 25 business days (15 for...
By: Bressler, Amery & Ross, P.C.