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Webinar held on protecting senior investors from financial exploitation

On Behalf of | Jun 15, 2023 | FINRA Compliance

A webinar on protecting senior and vulnerable investors from financial exploitation will be held on Thursday, the Financial Industry Regulatory Authority announced.

The event is called the Senior Safe Act Webinar Identifying and Reporting Suspected Exploitation. It is being co-hosted by the Securities and Exchange Commission, the North American Securities Administrators Association, and FINRA.

Firms can use the webinar as a training resource to help them implement the requirements of the federal Senior Safe Act and the state training requirements in Connecticut, said FINRA.

The Senior Safe Act, signed in 2018, encourages financial professionals to report suspected financial abuse and exploitation of a senior citizen. It protects covered financial institutions and their eligible employees, affiliated persons and associated persons from liability in any civil or administrative proceeding for reporting a case of potential exploitation of a senior citizen to a covered agency.

“FINRA continues to build upon our commitment to protecting senior investors by delivering important training opportunities and resources to help prevent financial exploitation,” said FINRA Foundation President Gerri Walsh. “We are excited to join our colleagues in heightening the awareness of these threats to vulnerable populations, especially as the investing landscape becomes more challenging and diversified.”

The webinar is being held to coincide with World Elder Abuse Awareness Day, which is aimed at promoting a better understanding of abuse and neglect of older persons. It is scheduled for 4 p.m. to 5 p.m. Eastern Time, and will be open to the public. Registration is available on the webinar page.

The attorneys at Lewitas Hyman fully understand the regulatory scrutiny financial professionals and their firms face from the various regulators that oversee the financial services industry. We have decades of experience representing clients with respect to examinations, investigations and enforcement proceedings initiated by the SEC, FINRA, state securities regulatory agencies and other self-regulatory organizations. If your firm is facing an investigation from a regulatory agency, please contact Lewitas Hyman at (888) 655-6002 or through our online contact form.