The Financial Industry Regulatory Agency (FINRA) has recently submitted to the U.S. Securities Exchange Commission a rule change proposal designed to provide more protection for elderly investors. As recently reported by the Investment News, the new rules modify FINRA’s rules that require its members to maintain the confidentiality of their customer’s financial information.  According to FINRA, the new rules are…

A general conservatorship usually continues until the conserved person (called the “conservatee”) dies. Courts and conservatorship attorneys avoid the term “permanent conservatorship” because it suggests that the conservatee will never regain their independence. However, in most cases—particularly those involving elderly conservatees—that’s exactly what happens. The article addresses the termination of conservatorships upon the death of…

California’s Welfare & Institutions Code provides a series of remedies for financial abuse of those age 65 or older.  For years, financial elder abuse has been plead in investor arbitration claims against brokers and investment advisors.  Nevertheless, arbitration decisions rarely cite California’s financial elder abuse statutes as a basis for an award.  A recent arbitration…

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