AGING-FINANCIAL EXPLOITATION
What changed between versions
Added new definitions for 'Broker-dealer', 'Caregiver', 'Abuser', and 'Adult with disabilities' to clarify who is covered under the law.
Modified the definition of 'financial exploitation' to explicitly include wrongful taking of assets and acts taken via power of attorney or guardianship.
Added new requirements for broker-dealers and investment advisors to report suspected financial exploitation to the Department on Aging.
Added authority for broker-dealers and investment advisors to delay disbursements from an eligible adult's account when financial exploitation is suspected.
Modified the scope of the Act by adding specific exemptions for abuse caused by spiritual means, licensed health care professionals, or criminal activity by strangers and telemarketing scams.