FINRA Fines and Suspends Rep Over Undisclosed Elderly Widow's Will Bequest (BrokeAndBroker.com Blog)
Bill Singer
A critic of the inept and incompetent, and an advocate for economic and political sanity. It's a lonely journey but I walk it. Wall Street legal, regulatory, and compliance veteran since 1982.
FINRA Fines and Suspends Rep Over Undisclosed Elderly Widow's Will Bequest?(BrokeAndBroker.com Blog)
https://www.brokeandbroker.com/6252/finra-bequest-widow/
It is always disconcerting when elderly customers change their wills in order to leave eye-opening bequests to their stockbrokers or financial advisors. There are many decent men and women on Wall Street, and they often service their elderly customers with affection and unimpeachable rectitude. On the other hand, there are many predators on the Street. In a recent FINRA regulatory settlement, we seem to have a swirl of considerations involving a stockbroker and an elderly widow. Frankly, it's next to impossible to reconcile FINRA's allegations with FINRA's sanctions, which raises many questions.?