HB 332 w/ HA 1

Synopsis

This bill mandates reporting by certain employees of broker-dealer or investment adviser firms who have a reasonable belief that financial exploitation of an eligible adult has occurred, been attempted, or will be attempted. Reporting will be to both the Investor Protection Director and the Department of Health and Social Services. It also enables broker-dealers and investment advisers to delay disbursement from an account of an eligible adult where financial exploitation is suspected. This also includes definitions of “eligible adult,” “financial exploitation” and “qualified individual” to be inserted into the Securities Act.

Documents