News & Analysis as of

North American Securities Administrators Association Elder Issues

Faegre Drinker Biddle & Reath LLP

States Enact Good Samaritan Broker Laws

On January 22, 2016, the members of the North American Securities Administrators Association (NASAA) released the Senior Model Act. It was developed and approved to serve as a model statute for states to adopt to target...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

Broker-Dealer Compliance + Regulation

NASAA Survey Finds Seniors Are Most Vulnerable to Financial Fraud

On August 21, 2017, the North American Securities Administrators Association (“NASAA”) released a survey on senior citizens and financial exploitation. The survey of the state securities regulators highlighted, among other...more

Carlton Fields

Signs of an Active 2017 for Laws Protecting Vulnerable Adults from Financial Exploitation

Carlton Fields on

The North American Securities Administrators Association (NASAA)’s Model Legislation or Regulation to Protect Vulnerable Adults from Financial Exploitation (Model Act) gained traction in 2016 and appears poised for even more...more

Morgan Lewis

Thou Shalt Not Exploit Thine Elders

Morgan Lewis on

SEC approves FINRA rule designed to protect seniors and other specified adults from financial exploitation. The Securities and Exchange Commission (SEC) has approved a new rule proposed by the Financial Industry...more

Broker-Dealer Compliance + Regulation

NASAA Adopts Model Act on the Prevention of Financial Exploitation of Vulnerable Adults

On January 22, 2016, the North American Securities Administrators Association (“NASAA”) adopted a model act, entitled “An Act to Protect Vulnerable Adults from Financial Exploitation.” This act seeks to facilitate...more

Carlton Fields

FINRA and NASAA Proposals to Protect Vulnerable Customers

Carlton Fields on

The Financial Industry Regulatory Authority (FINRA) is seeking comments on proposed rules addressing financial exploitation of (i) seniors (age 65 or older), and (ii) other adults with mental or physical impairments that...more

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