Articles Posted in Blog

How the company has violated or been accused of violating FINRA regulations It is always important for investors to have a good understanding of the financial professionals they work with. Before handing over money to anyone, brokers should be vetted properly. This is why the Financial Industry Regulatory Authority (FINRA)…

Learn about the steps involved for victims, loved ones, and financial professionals Elder financial fraud is an epidemic in this country that not a lot of people know about and even fewer talk about. And “epidemic” isn’t an exaggeration; every year, billions of dollars are scammed and stolen from seniors…

Why this may just be a marketing ploy It is quite possible that your broker or financial advisor has an impressive-sounding title that indicates expertise managing the accounts of older investors – something like Senior Specialist. This, in fact, could be one of the reasons why you chose him or…

Professionals in the securities industry are obligated to follow the rules created by the Financial Industry Regulatory Authority (FINRA), and it is important that they stay abreast of any changes or updates to them. One regulation that was recently amended is Rule 4512, which concerns customer account information. Previously, for…

In another attempt to help older investors get the protection they need, the Financial Industry Regulatory Authority (FINRA) recently established Rule 2165 (Financial Exploitation of Specified Adults). This regulation allows member financial professionals to place holds on accounts in the event that exploitation is suspected. How Rule 2165 works Rule…

In February 2017, after approval by the SEC, the Financial Industry Regulatory Authority (FINRA) put into effective two initiatives: a new rule and an amendment to an old one. Rule 2165 (Financial Exploitation of Specified Adults) allows member financial professionals or firms to place temporary holds on securities or the…

The former broker reportedly never disclosed a real estate venture that was worth $1 million James Randall Clay was notified by the Financial Industry Regulatory Authority (FINRA) in October of last year that he was the respondent in a complaint. The allegations against him involve an elderly client, a large…

Allegations include the misappropriation of more than $2.6 million, much of it through a penny stock scheme Elder financial fraud continues to be a serious problem in the U.S., but the Securities and Exchange Commission (SEC) is making attempts to protect senior investors. One way the agency is doing this…

The former Michigan broker’s career was filled with suspensions, investigations, and firings In April of 2017, Ernest Julius Romer III received a permanent bar from the securities industry by the Financial Industry Regulatory Authority (FINRA). He was originally suspended by the agency, but because he didn’t request termination of the…

He allegedly stole almost $300,000 from an elderly client Earlier this month, Roger Kroeger was arrested in Broward County on several charges after a former client of his accused him of stealing $290,000 from her investment account. Kroeger had been an advisor with INVEST Financial Corporation in Fort Lauderdale. The…