Senior/Vulnerable Clients – State Reporting Requirements

$150.00

This Senior/Vulnerable Clients – State Reporting Requirements sample form is a review of state reporting requirements in all 50 states for senior or vulnerable adult financial exploitation that are applicable to investment adviser firms. Please note that this list may have become dated and no longer accurate due to changes since it was created.

Description

This Senior/Vulnerable Clients – State Reporting Requirements sample form is a review of state reporting requirements in all 50 states for senior or vulnerable adult financial exploitation that are applicable to investment adviser firms. Please note that this list may have become dated and no longer accurate due to changes since it was created.

Every state has a law regarding reporting suspected financial abuse of senior and vulnerable adults, about half have mandatory reporting requirements which can become applicable to investment advisers. This listing covers whether a state mandates reporting, if they allow delayed account disbursements, and whether they provide immunity to reporters. It also lists state agencies that reports may be filed with and contains links to the actual state statute or bill.

State laws are constantly being amended and changed, this spreadsheet may no longer accurately reflect state laws as they are changed and amended. Investment Advisers should not rely solely on this document to be aware of their reporting requirements. This document is not exhaustive and serves only to help inform individuals of possible requirements they may face. State laws also vary widely in who they apply to (state or SEC registered firms), who is required to report, the definition of a senior, the processes for reporting, etc. RCC recommends consulting local legal counsel if Investment Advisers have questions about local state requirements. Investment Advisers should research their state’s laws and requirements and consult local legal counsel to be fully aware of their responsibilities and requirements under state law.
This PDF is also available as part of a package of sample forms, documents, and training materials covering the Senior Safe Act and senior financial exploitation.

Included in Bronze, Silver, Gold & Platinum Packages. Last updated in June 2021.

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Disclosures

This sample document is merely an example for general reference and educational purposes.  RIA Compliance Consultants, Inc. is providing this sample document to the purchaser on an “as is” basis with no warranty or guaranty whatsoever.

This sample document should be considered a starting point, and purchaser should not treat this sample document as a final document ready for use.  The sample document has not been customized to the purchaser’s business model, the specific investment advisory rules applicable to the purchaser’s investment adviser or the written supervisory procedures and code of ethics of purchaser’s investment adviser.

This sample document may not be applicable or appropriate for every investment adviser. The purchaser should not consider a sample document purchased from our online store as an exhaustive, comprehensive or definitive list of the items necessary to meet the purchaser’s obligations under the applicable investment adviser laws and rules.

This sample document is not intended to detect or prevent fraud, selling away, Ponzi schemes, undisclosed outside business activities, inaccurate or false fee calculations, theft, misappropriation or unlawful conversion of client funds.

Due to changes of investment adviser laws and rules, this sample documented may become outdated and need to be updated or discontinued.  RIA Compliance Consultants, Inc. will not be providing any subsequent updates of this sample documents to the purchaser.  Likewise, RIA Compliance Consultants, Inc. will not be monitoring and reporting to the purchaser any issues related to the use of this sample document.

Since this sample document may not reflect the specific investment advisory requirements of the purchaser’s securities regulator, the purchaser should check with the securities regulator(s) with jurisdiction over its investment adviser or review any applicable rules before using this document.

This sample document is not a substitute for retaining a compliance professional to advise and assist the purchaser regarding its investment adviser’s compliance program. Unless otherwise agreed to in writing, the purchaser understands that the purchaser has not engaged RIA Compliance Consultants, Inc. in a consulting relationship by merely purchasing or utilizing a sample form. Additionally, the purchaser understand that unless otherwise agreed to in writing, RIA Compliance Consultants, Inc. is not responsible for customizing this sample document, updating the sample document, preparing the purchaser’s written supervisory procedures or code of ethics, or notifying the purchaser of changes to the investment adviser laws and rules.

Purchaser is not authorized to re-sell this sample document nor license the use of this sample document to a third-party.

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