Answer :
FINRA allows broker-dealers to place an initial temporary hold on distributions from seniors' accounts for up to 15 days if there is a suspicion of financial exploitation, with a possibility of extending it for another 10 days upon further review.
The question pertains to the regulatory guidelines concerning the holding period for distributions in senior accounts to prevent financial exploitation. The Financial Industry Regulatory Authority (FINRA) has allowed broker-dealers to place a temporary hold on disbursements of funds or securities from the accounts of specified customers where there is a reasonable belief of financial exploitation of these customers.
As of the last update before my knowledge cutoff in 2023, that hold period is a maximum of 15 days, which broker-dealers can initially place. This can be extended by the broker-dealer for an additional 10 days if the firm's internal review supports concerns about potential exploitation.
However, these regulations are subject to change, and it's important for financial professionals to remain abreast of current rules and guidelines.
Therefore, The correct is A) 15days.
