New York of counsel Matthew Farley was quoted in a Securities Law Daily article titled, “Firms Should Beef Up Surveillance for Senior Investors.”

State and federal regulators, as well as the Financial Industry Regulatory Authority, continue to increase their watchfulness against fraud committed against the elderly and others with diminished capacity.

Matt noted that it is essential for broker-dealers to pay particular attention to their dealings with these clients, or risk significant fines, including punitive damages. He also discussed how firms can proactively avoid being at risk by implementing and maintaining a “robust” surveillance program, conducting inspections and keeping written records, and having branch managers contact customers and documenting their interactions.

Read “Firms Should Beef Up Surveillance for Senior Investors.”

Source: Securities Law Daily