WASHINGTON -- As waves of baby boomers head into retirement, state and federal regulators expect to take a hard look at the programs firms have in place to ensure they are selling elderly investors appropriate financial instruments and protecting them from unscrupulous third parties, according to regulators and compliance experts speaking at the Financial Services Institute's OneVoice conference.
Kevin Goodman, the national associate director of the SEC's broker-dealer examination program, said that the agency will give close scrutiny to the policies and practices firms have in place concerning marketing and selling to seniors. That means a review of the entire ecosystem, including the methods by which brokers coordinate with their affiliated advisors to confirm that elderly investors are receiving appropriate care.
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