Choice of a Trusted Contact
Brokers are now required to ask investors for a designated, trusted contact person for their investment accounts. The broker must make reasonable efforts to obtain the contact information, which acts as an additional reference point when monitoring transactions and keeping accounts safe.
Holds on Withdrawals When Financial Exploitation Is Suspected
Firms can now put a temporary hold on withdrawals from investment accounts if they suspect fraud or exploitation. According to FINRA, this rule applies to "investors age 65 and older" or to "those with mental or physical impairments that the firm reasonably believes makes it difficult for them to protect their own financial interests."
For questions or concerns about investment accounts, seniors can call the FINRA Securities Helpline for Seniors at 844-57-HELPS (1-844-574-3577). Other resources include:
We're Committed to Protecting You
Your security is a critical part of the trust you place in us. We're committed to protecting your personal information no matter how you choose to do business with us. Check out our Security Center to learn more about safeguarding your accounts and identity.