Perhaps it is would be a classic understatment to say that times are tough -- fact is, it's been brutal for the past few years. The Great Recession has hit all of us hard. Sometimes, Wall Street forgets that it's not just the securities industry that has been battered by bad times. Sure, we can talk all we want about Lehman, Bear Stearns, AIG, and countless other firms; however, those institutions have not experienced anything all that different from the financial stresses imposed upon millions of Americans.
Amidst all the hard-luck stories of failed brokerage firms and unemployed stockbrokers, a frightening problem appears to be emerging. Faced with hard times on Wall Street and dwindling financial resources of their own, some securities-industry professionals seem to be turning to the dark side. Even more alarming, the elderly are increasingly being targeted by unscrupulous stockbrokers. Equally troubling are the apparent failures to reasonably supervise such miscreants.
Please consider some of the 2010 monthly disciplinary cases involving elderly clients brought by the Financial Industry Regulatory Authority (FINRA) in the past six months alone. Visit: http://www.rrbdlaw.com/enforcement-actions/tags.php?term=Elderly&year=2010
Three Respondents Cited In 539 Plan FINRA Settlement For the purpose of proposing a settlement of rule violations alleged by the Financial Industry R... Read On