Kentucky HB794 amends laws to address financial exploitation of adults, particularly those aged 65 and older or those with impairments.

Kentucky HB794 amends existing laws to strengthen protections against financial exploitation of adults, particularly those aged 65 and older or those with impairments. The bill introduces new penalties for knowingly or wantonly exploiting these vulnerable adults, resulting in significant financial loss. It also mandates that investment adviser representatives complete continuing education credits, including topics on financial exploitation. Qualified persons, such as financial institutions, are required to report suspected exploitation to relevant agencies and law enforcement.

Kentucky HB794 amends laws to address financial exploitation of adults, particularly those aged 65 and older or those with impairments.

Kentucky HB794 amends existing laws to strengthen protections against financial exploitation of adults, particularly those aged 65 and older or those with impairments. The bill introduces new penalties for knowingly or wantonly exploiting these vulnerable adults, resulting in significant financial loss. It also mandates that investment adviser representatives complete continuing education credits, including topics on financial exploitation. Qualified persons, such as financial institutions, are required to report suspected exploitation to relevant agencies and law enforcement.