{"id":1633,"date":"2015-04-27T18:11:26","date_gmt":"2015-04-27T18:11:26","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/04\/finra_and_sec_unveil_report_on"},"modified":"2022-03-22T14:17:50","modified_gmt":"2022-03-22T19:17:50","slug":"finra-and-sec-unveil-report-on","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-and-sec-unveil-report-on\/","title":{"rendered":"FINRA and SEC Unveil Report on Senior Investors, Cite Concerns About Unsuitable Recommendations"},"content":{"rendered":"

The Financial Industry Regulatory Authority and the Securities and Exchange Commission have put out a report, the Senior Investment Initiative<\/em>, to help brokerage firms come up with better procedures and policies for older investors. With the current low yields on traditional savings accounts and investments that are more low risk, FINRA and the SEC’s Office of Compliance Inspections and Examinations are worried that broker-dealers could be recommending investments that may be to risky or unsuitable for seniors who want higher returns. They are also worried that the firms are not properly disclosing the terms and risks of these securities.<\/p>\n

Considering that by 2040 there are expected to be some 79 million Americans in the 65 and over age group, information in this report is important for helping tackle investment issues as they relate to seniors. OCIE’s Director Andrew J. Bowden pointed out that seniors are now more than ever more dependent on their investments to help with retirement. Bowden noted that it is important that older investors are treated fairly and get suitable recommendations and appropriate disclosures about the risks, costs, and benefits of their investments.<\/p>\n

The two agencies examined some 44 brokerage firms. They looked at brokerage firm reps training, communications, arresting, account documentation, use of certain designations, disclosures, supervision, and customer complaints.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Financial Industry Regulatory Authority and the Securities and Exchange Commission have put out a report, the Senior Investment Initiative, to help brokerage firms come up with better procedures and policies for older investors. With the current low yields on traditional savings accounts and investments that are more low risk, FINRA and the SEC’s Office […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3739,3801,3803],"tags":[],"class_list":["post-1633","post","type-post","status-publish","format-standard","hentry","category-finra","category-sec","category-senior-investors"],"yoast_head":"\nFINRA and SEC Unveil Report on Senior Investors, Cite Concerns About Unsuitable Recommendations — Investor Lawyers Blog — April 27, 2015<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory Authority and the Securities and Exchange Commission have put out a report, the Senior Investment Initiative, to help — April 27, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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