Uniform standards to protect U.S. investors take effect
Investment industry firms urged to do more to prepare for and respond to the needs of vulnerable investors
Seniors now make up 19.9% of New Brunswick’s population — the highest percentage in the country.
Incidents of suspected abuse should be reported to authorities, regulators say
Matthew Urback flags key points in the estates process where advisors can act to protect both their clients and their practice from the impacts of elder abuse (Part 1 of 4)
It’s critical for seniors to understand how to protect themselves from financial abuse given that the majority of cases will involve people who are close to them
The groups are aiming to develop a mechanism to help firms and advisors protect clients who may be victims of elder abuse or with diminished mental capacity
Firms will have the power to place a temporary hold on client funds or securities that are to be disbursed if there’s a “reasonable belief of financial exploitation”
The anti-exploitation program will now include training for employees of banks and credit unions
Senior clients may be vulnerable to exploitation by family members, friends and strangers. While investment industry groups are finding ways to identify and prevent financial abuse of elders, you can do your part to help protect your clients