The Seniors' Glass Is Now Half Full

Half of the states now have report and hold laws after New Hampshire adopted its report and hold law intended to prevent financial exploitation of senior and vulnerable adults. On July 10, 2019, New Hampshire enacted legislation that permits firms to place a temporary disbursement hold and allows (but does not require) firms to report financial exploitation to the Bureau of Securities Regulation. Broker-dealers remain required to immediately report suspected exploitation to the Health and Human Services under the State’s Adult Protective Services (APS) statute, however. The new law will become effective on September 8, 2019.