Nationwide Reporting Chart

For Suspected Exploitation Of Seniors And/Or Vulnerable Persons

 

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AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC
Statute
Ind. Code Ann. § 12-10-3-9(a).
Ind. Code Ann. § 12-10-3-2(a)(1)–(3).
Ind. Code Ann. § 23-19-4.1-2.1.
Ind. Code Ann. § 23-19-4.1-6(a)(1)-(2).
Ind. Code Ann. § 23-19-4.1-5.
Ind. Code Ann. § 12-10-3-11(a)(1)–(4).
Ind. Code Ann. § 23-19-4.1-8.
Ind. Code Ann. § 23-19-4.1-7(d)(1)-(2).
Financial Services Professionals
(Mandated? Permissive?)

An individual who believes or has reason to believe. (Mandated)

An individual associated with a broker-dealer or investment advisor who serves in a supervisory, compliance, or legal capacity as part of the individual’s job. (Mandated)

State Report & Hold
(Y/N)

Yes, a qualified individual may refuse. Ind. Code Ann. § 23-19-4.1-7(a).

Unless a court or the commissioner enters an order extending the refusal of disbursement or providing any other applicable protective relief, any refusal of disbursement under this section expires upon the earlier of the following: (1) The date that the qualified individual has reason to believe that the disbursement will not result in financial exploitation of the financially vulnerable adult. (2) Fifteen (15) business days after the date of the initial refusal of disbursement by the qualified individual. However, if a broker-dealer’s or investment adviser’s internal review of the facts and circumstances supports the broker-dealer’s or investment adviser’s reasonable belief that the financial exploitation of the financially vulnerable adult has occurred, is occurring, has been attempted, or will be attempted, the commissioner shall extend the refusal of disbursement for an additional fifteen (15) business days after the expiration date that would otherwise apply under this subdivision. Ind. Code Ann. § 23-19-4.1-7(d)(1)-(2).

Reporters

An individual who believes or has reason to believe that another individual is an endangered adult shall make a report under this chapter. Ind. Code Ann. § 12-10-3-9(a).

If a qualified individual has reason to believe that financial exploitation of a financially endangered adult has occurred, has been attempted, or is being attempted, the qualified individual shall (1) make a report to an entity listed in IC 12-10-3-10(a); and (2) notify the commissioner. Ind. Code Ann. § 23-19-4.1-6(a)(1)-(2).

Qualified Individual: An individual associated with a broker-dealer or investment advisor who serves in a supervisory, compliance, or legal capacity as part of the individual’s job. Ind. Code Ann. § 23-19-4.1-5.

Protected Individuals

Endangered Adult: An individual who is: (1) at least 18 years of age; (2) incapable by reason of mental illness, intellectual disability, dementia, habitual drunkenness, excessive use of drugs, or other physical or mental incapacity of managing or directing the management of the individual’s property or providing or directing the provision of self-care; and (3) harmed or threatened with harm as a result of: (A) neglect; (B) battery; or (C) exploitation of the individual’s personal services or property. Ind. Code Ann. § 12-10-3-2(a)(1)–(3).

Financially Vulnerable Adult: An individual to whom one (1) or more of the following apply: (1) The individual is at least sixty-five (65) years of age. (2) The individual is: (A) at least eighteen (18) years of age; and (B) incapable, by reason of: (i) mental illness; (ii) intellectual disability; (iii) dementia; or (iv) other physical or mental incapacity; of managing or directing the management of the individual’s property. Ind. Code Ann. § 23-19-4.1-2.1.

Financial Institutions-Immunity (Y/N)

Yes.

A person, other than a person against whom a complaint concerning an endangered adult has been made, who in good faith: (1) makes or causes to be made a report required to be made under this chapter; (2) testifies or participates in any investigation or administrative or judicial proceeding on matters arising from the report; (3) makes or causes to be made photographs or x-rays of an endangered adult; or (4) discusses a report required to be made under this chapter with the division, the adult protective services unit, a law enforcement agency, or other appropriate agency; is immune from both civil and criminal liability arising from those actions. Ind. Code Ann. § 12-10-3-11(a)(1)–(4).

Notwithstanding any other provision of law, a broker-dealer, investment adviser, or a qualified individual who, in good faith, complies with section 6 or 7 [IC 23-19-4.1-6 or IC 23-19-4.1-7] of this chapter, is immune from any administrative or civil liability for actions taken in accordance with those sections. A broker-dealer, investment adviser, or qualified individual who, in good faith, releases or does not release copies of records under section 9 [IC 23-19-4.1-9] of this chapter is immune from any civil liability for release of such records or failing to release such records. This chapter does not limit or otherwise impede the authority of the commissioner to access or examine books and records of broker-dealers or investment advisers as otherwise provided by law. Ind. Code Ann. § 23-19-4.1-8.

** See Senior Safe Act

* Although care has been taken to ensure the accuracy and completeness of the information provided, EverSafe assumes no responsibility therefore and urges users of the information to check sources before use. Information is updated regularly and subject to change.
** On May 24, 2018, the Senior Safe Act was signed into law on a federal level as part of Economic Growth, Regulatory Relief, and Consumer Protection Act (Pub. Law No: 115-174). The Act is now codified at 12 USC § 3423. It extends immunity from liability to covered financial institutions who disclose suspected financial exploitation of adults 65 years and older to regulatory or law-enforcement agencies.
*** On February 5, 2018, FINRA Rule 2165 was adopted. Rule 2165 allows members to place temporary holds on disbursements of funds or securities from the accounts of a person 1) age 65 or older or 2) 18 years or older who the member reasonably believes has a mental or physical impairment that renders the individual unable to protect his or her own interests, if the member reasonably believes that financial exploitation of the person has occurred, is occurring, has been attempted, or will be attempted.