Post Mortem Account Sales Dig FINRA Grave For Stockbroker


The death of a brokerage customer is often more of a beginning than an end.  Once it becomes known that there are assets, the mourning period may prove short and hostilities may break out quickly over who gets what.  There may be lots of finger pointing by an executor, and administrator, or any number of disgruntled beneficiaries about the wisdom of recent trading activity or the entire management of the account.  Today's Blog explores a recent regulatory settlement involving a stockbroker's conduct upon learning of his customer's death.For the purpose of proposing a settlement of rule violations alleged by the Financial Industry Regulatory Authority (“FINRA”), without admitting or denying the findings, prior to a regulatory hearing, and wit...
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