FINRA is serving notice that protecting vulnerable seniors continues to be a high priority. This includes cracking down on broker/dealers who permit reps to use senior designations in an unethical or misleading manner.

In a notice sent to BD members earlier this month, FINRA warned: Firms that allow the use of any title or designation that conveys an expertise in senior investments or retirement planning where such expertise does not exist may violate FINRA rules and possibly the anti-fraud provisions of federal securities laws.

The notice urged BD's to "strengthen their supervisory procedures."

FINRA said a recent survey showed "widespread use of senior designations in the broker-dealer community."

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