FINRA recently introduced a new rule known as the "senior rule" that authorizes FINRA member firms to place a temporary hold on disbursements of funds or securities for up to 15 business days when there is a reasonable belief of financial exploitation.
This rule applies to accounts belonging to investors age 65 and older, or to those with mental or physical impairments, if firms reasonably believe that it is difficult for them to protect their financial interests. Another new FINRA rule requires brokers to make reasonable efforts to obtain the name and contact information for a designated trusted contact person for an elderly investor's account. In light of U.S. Department of Justice estimates that $3 billion is defrauded from elderly Americans annually, these rules provide firms with tools to combat senior financial abuse by extending time and resources to investigate when a disbursement request raises red flags.
For more information, see here.