On May 23, 2019, in recognition of the one-year anniversary of the passage of the Senior Safe Act, the SEC, the North American Securities Administrators Association and FINRA issued a fact sheet to raise awareness of the act and its immunity provisions for covered financial institutions in an effort to encourage firms to train their employees on how to detect and report suspected senior financial exploitation. The Senior Safe Act provides immunity to certain financial institutions, including broker-dealers, investment advisers and transfer agents, and their eligible employees from liability in any civil or administrative proceeding for reporting potential exploitation of a senior citizen. The fact sheet provides general information about the Senior Safe Act, including information about the employee training required for immunity and related recordkeeping requirements, among other things.

The fact sheet is available at:

https://www.investor.gov/senior-safe-act-fact-sheet

Investment Services Regulatory Update - June

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