New York bill allows investment advisers and firms to report suspected financial exploitation of elderly and vulnerable adults to the Department of.

The New York bill S01293 amends the general business law to add provisions for the prevention of financial exploitation of elderly and vulnerable adults. It defines "eligible adult" as someone aged 65 or older or under adult protective services. "Financial exploitation" includes unauthorized use of an eligible adult's money or property or actions taken through power of attorney, guardianship, or conservatorship to control their assets. Qualified individuals can notify the Department of Financial Services and adult protective services if they suspect exploitation.

New York bill allows investment advisers and firms to report suspected financial exploitation of elderly and vulnerable adults to the Department of.

The New York bill S01293 amends the general business law to add provisions for the prevention of financial exploitation of elderly and vulnerable adults. It defines "eligible adult" as someone aged 65 or older or under adult protective services. "Financial exploitation" includes unauthorized use of an eligible adult's money or property or actions taken through power of attorney, guardianship, or conservatorship to control their assets. Qualified individuals can notify the Department of Financial Services and adult protective services if they suspect exploitation.