News & Analysis as of

Elder Issues Financial Institutions Investment Adviser

Bressler, Amery & Ross, P.C.

Florida Adopts Protection of Specified Adults Statute for Financial Institutions

During the 2024 Legislative session, the Florida Legislature passed Senate Bill 556, “Protection of Specified Adults”, which was signed into law by Governor Ron DeSantis on May 28, 2024....more

Faegre Drinker Biddle & Reath LLP

Having a Senior Moment: Recent Legislation and Rules to Protect Seniors from Financial Exploitation

In recent years there has been a spate of legislation and rules passed to protect senior investors. Similarly, observers of FINRA’s and the SEC’s annual priorities will, of course, have noticed both bodies’ inclusion of elder...more

Bressler, Amery & Ross, P.C.

Arkansas and Hawaii are the Latest States to Increase the Protection of Vulnerable Adults from Financial Exploitation

Arkansas and Hawaii are the latest states to enact laws enhancing the protection of elder and vulnerable adults from financial exploitation. On July 28, 2021, Arkansas’s amendment to its financial exploitation law became...more

Bressler, Amery & Ross, P.C.

Arkansas Modifies Its Financial Exploitation Report and Hold Statute

On April 1, 2021, Arkansas modified its law protecting elder and vulnerable adults from financial exploitation. The enacted Arkansas Senate Bill 151 modifies Arkansas’s financial exploitation law, Ark. Code § 23-42-309, by...more

Bressler, Amery & Ross, P.C.

Nebraska Enacts Broker-Dealer and Investment Adviser Financial Exploitation Law

On March 31, 2021, Nebraska became the latest state to pass legislation to protect elder and vulnerable adults from financial exploitation. The new law allows broker-dealers and investment advisers to report suspected...more

Vedder Price

SEC, NASAA and FINRA Issue Senior Safe Act Fact Sheet

Vedder Price on

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...more

Bradley Arant Boult Cummings LLP

Securities Legislative Update – Elderly Investors 2017

The SEC recently approved FINRA’s proposed rule aimed at preventing fraud and abuse of senior investors. On March 30, FINRA issued Regulatory Notice 17-11, setting the effective date for the new rule as February 5, 2018. The...more

Proskauer - Corporate Defense and Disputes

SEC Staff Announces 2017 OCIE Examination Priorities

On January 12, 2017, the staff of the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) released its annual announcement on examination priorities in the coming calendar...more

Goodwin

Financial Services Weekly News - October 2015 #3

Goodwin on

Regulatory Developments: FINRA Requests Comment on Rules Relating to Financial Exploitation of Vulnerable Adults - On Oct. 15 FINRA published Regulatory Notice 15-37, requesting comment on proposed amendments to...more

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