National Senior Investor Initiative Act of 2023

The National Senior Investor Initiative Act of 2023 establishes a new Senior Investor Taskforce within the Securities and Exchange Commission (SEC) to address challenges faced by investors aged 65 and older, including financial exploitation and cognitive decline. The taskforce will identify regulatory gaps, coordinate with agencies like state regulators and law enforcement, and issue biennial reports to Congress with recommendations for improving protections. It also mandates a Government Accountability Office (GAO) study examining the economic costs, frequency, and policy responses to financial exploitation of seniors. The SEC will use existing funds to implement these provisions without creating new positions or spending.