Category Archives: Vulnerable Client
Lessons from a State Securities Regulator and Adult Protective Services About Reporting Elder Abuse
January 25, 2020
Last week, RIA Compliance Consultants hosted a webinar entitled “How to Report Elder Abuse to Adult Protective Services” in which a state securities regulator and an official from a state’s adult protective services agency discussed how an investment adviser firm can more effectively report elder abuse and better protect its senior and vulnerable clients.
Learn How Your Investment Adviser Can Improve Its Report of Elder Abuse to Adult Protective Services
January 20, 2020
Many state legislatures in the U.S. have recently passed legislation mandating that investment adviser firms and their supervised persons report instances of elder abuse by third parties to the applicable authority in the state (e.g., adult protective service, attorney general’s office). Moreover, many securities regulators have passed specific rules requiring mandatory reporting of elder abuse and/or taken the position that reporting instances of elder abuse is essentially part of an investment adviser firm’s fiduciary duty to act in a client’s best interest.
Making the Reporting of Elder Abuse Easier for Investment Advisers
November 28, 2019
When an investment adviser firm suspects a vulnerable or senior client is being exploited financially by a third-party, one of the biggest challenges for the chief compliance officer (“CCO”) is knowing where exactly to report such suspicions of abuse.
