Preventing elder financial abuse and increasing protection for seniors
Washington, D.C. – Today, President Donald Trump signed the Senior Safe Act into law as part of the Economic Grown, Regulatory Relief and Consumer Protection Act. The Financial Services Institute (FSI) has strongly advocated for the passage of the Senior Safe Act, working closely with members of Congress for a number of years. Below is a statement from FSI President & CEO Dale Brown:
“We applaud President Trump for signing the Senior Safe Act into law and providing seniors additional protection from financial abuse. Preventing elder financial abuse and increasing protection for seniors has been among FSI’s top priorities for several years. Financial advisors and financial services firms are often the first to detect possible financial abuse, so it is critical that they have proper training to identify potential abuse as well as the ability to report it without fear of violating privacy laws. After years of strongly advocating on this issue and working closely with members of Congress on the Senior Safe Act, we are glad to see this critical legislation signed into law.”
About the Financial Services Institute (FSI):
The Financial Services Institute (FSI) is the only organization advocating solely on behalf of independent financial advisors and independent financial services firms. Since 2004, through advocacy, education and public awareness, FSI has successfully promoted a more responsible regulatory environment for more than 100 independent financial services firm members and their 160,000+ affiliated financial advisors – which comprise over 60% of all producing registered representatives. We effect change through involvement in FINRA governance as well as constructive engagement in the regulatory and legislative processes, working to create a healthier regulatory environment for our members so they can provide affordable, objective advice to hard-working Main Street Americans. For more information, please visit financialservices.org.