House Passes Financial Exploitation Prevention Act to Safeguard Seniors from Fraud
The bill would permit open-ended investment companies and transfer agents to delay redemption of securities if they suspect financial exploitation of account holders who are aged 65 or older or disabled.
Personalization Push Heightens Need for Advisers to Vet Cybersecurity
As advisers seek more participant personalization from retirement recordkeepers, they also need to ramp up their focus on cybersecurity from providers, according to industry participants.
Regulators: Crypto, Fake IRAs Increasingly Used to Scam Older Investors
Representatives from NASAA, the SEC, and FINRA spoke about the need for financial advisers and firms to be trained to notice more intelligent, and increasingly bold scams from fraudsters.
Cybersecurity Experts Warn of Increased Fraud Risk to Retirement Plans
Cybercriminals are becoming more sophisticated and patient in their approach due to the massive payouts fraudsters can manage to steal from retirement plans.
New Advisory Group on Preventing Senior Scams to Meet Next Week
The advisory group was established by the Stop Senior Scams Act, passed in March, and is charged with developing strategies for combating financial scams against seniors.
