According to FINRA, Jonathan Earl Best is facing charges alleging that he effected trades in a senior customer's account without obtaining required authorization, totaling $14,199,847 in principal value.

The complaint alleges that the customer was the only person authorized to transact in the account, which was non-discretionary. Best's firm prohibited discretionary trading in retail brokerage accounts.

Best allegedly became aware that the customer was exhibiting signs of diminished capacity and informed a relative that he could not effect transactions due to her condition. Best then allegedly sought to become the customer's co-power of attorney but his firm rejected this request and instructed him to formally recuse himself from the appointment.

Despite this, Best allegedly proceeded to effect the purchase of laddered brokered certificates of deposit in the customer's account with cash proceeds from matured and called bonds. Best earned $10,760.88 in compensation from these trades.

The complaint also alleges that Best submitted false compliance attestations stating he had no concerns about any senior investors' capacity to make sound decisions, when he knew the customer could not understand or authorize trades due to her diminished capacity.

These are allegations that have not been adjudicated. Best is entitled to a hearing to contest these charges. If proven, this case would represent a serious breach of duties owed to a vulnerable senior customer.

Investors and their families should be vigilant about signs of diminished capacity and ensure proper legal arrangements are in place.