10/13/2015 – U.S. regulator to propose investment rules to protect elderly

A U.S. securities regulator, aiming to protect elderly clients from scams and their own diminished mental capacity, will propose rules requiring brokers to identify – when an account is opened – a “trusted” person who can make financial decisions if the client’s judgment becomes impaired.

The rules also will allow firms to freeze money transfers from accounts if they suspect fraud or odd activity.

Read the full article at Reuters.