Regulator issues guide on detecting harm to seniors
Regulators' efforts to prevent abuse are gaining traction
Advisors must be "prepared to talk to clients in crisis"
A report finds that suspected exploitation quadrupled between 2013 and 2017
Regulators and dealer firms have been slow to come up with a clear process for financial advisors to handle suspected cases of elder financial abuse. But they have begun to show a willingness to develop workable solutions.
The effects of financial abuse frequently go well beyond the pocketbook
The pair took “extreme financial advantage” of a vulnerable senior
Aging investors seen as particularly vulnerable to financial fraud, unsuitable investments and other risks
IFIC, FAIR Canada and the CCEL favour empowering firms and advisors to stop suspected financial abuse
Uniform standards to protect U.S. investors take effect
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