Course Description:
Many investment advisers and broker-dealers are faced with the special challenges of an aging client base. SEC, FINRA, and NASAA have expressed an increased interest in senior investors and, in FINRA’s case, have enacted rules for brokers to address this issue in specific policies and procedures. Moreover, NASAA previously issued the Model Act to Protect Vulnerable Adults from Financial Exploitation which in turn contributed to Congress passing “The Senior Safe Act” affording a safe harbor for reporting suspected elder abuse when certain conditions are met. To that end, this session will provide an overview of applicable regulations, identify best practices to use with senior clients, and address the possibility that your best intentions may ultimately conflict with privacy protections.
Learning Objectives:
- Identify and analyze regulatory initiatives undertaken by the SEC, state regulators, and FINRA
- Recognize how to identify customers with diminished capacity and the warning signs of elder abuse
- Incorporate appropriate policies and procedures to protect seniors into your compliance program
For whom: Designed to increase the professional competence of investment adviser and broker-dealer compliance professionals with compliance, legal, operations, administrative, and management responsibilities
Suggested Skill Level: Basic
Instructional Method: Group Internet-Based
Pre-requisites for participation: No prerequisites are required
Advance Preparation: None
Continuing Education Credits:
COMPLY Continuing Education Guide
Maximum Recommended IACCP CE Credits: 2
Maximum Recommended CPE Credits: 2 in the Regulatory Ethics field of study
Maximum Recommended CA MCLE Credits: 2