Nationwide Reporting Chart
For Suspected Exploitation Of Seniors And/Or Vulnerable Persons
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N.M. Stat. Ann. § 27-7-16(L).
N.M. Stat. Ann. § 58-13D-3(A)(1)-(3).
N.M. Stat. Ann. § 58-13D-2(C)-(D), (F)-(G), (J).
N.M. Stat. Ann. § 58-13D-4.
N.M. Stat. Ann. § 58-13D-(5)(A)-(C).
N.M. Stat. Ann. § 58-13D-6.
(Mandated? Permissive?)
Any person, including financial institutions. (Mandated)
A broker-dealer, investment adviser or qualified individual. (Mandated)
(Y/N)
Yes, a broker-dealer or investment advisor may delay. N.M. Stat. Ann. § 58-13D-5(A).
Any delay of a disbursement or transaction as authorized by this section will expire upon the sooner of: (1) a determination by the broker-dealer or investment adviser that the disbursement or transaction will not result in financial exploitation of the eligible adult; or (2) fifteen business days after the date on which the broker-dealer or investment adviser first delayed disbursement or transaction, unless either of the agencies requests that the broker-dealer or investment adviser extend the delay, in which case the delay shall expire no more than twenty-five business days after the date on which the broker-dealer or investment adviser first delayed disbursement or transaction unless otherwise terminated or extended by either of the agencies or an order of a court of competent jurisdiction. C. A court of competent jurisdiction may enter an order extending the delay of the disbursement or transaction or may order other protective relief based on the petition of the director of the securities division of the regulation and licensing department, the director of the adult protective services division of the aging and long-term services department, the broker-dealer or investment adviser that initiated the delay under this section, or other interested party. N.M. Stat. Ann. § 58-13D(5)(B)-(C).
Any person, including financial institutions having reasonable cause to believe that an incapacitated adult is being abused, neglected or exploited. N.M. Stat. Ann. § 27-7-30(A).
If a broker-dealer, investment adviser or qualified individual reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted or is being attempted, a broker-dealer, investment adviser or qualified individual shall promptly notify the agencies, a third-party previously designated by the eligible adult; and may attempt to notify a third-party that is not designated but is reasonably associated with the eligible adult. N.M. Stat. Ann. § 58-13D-3(A)(1)-(3).
Broker-Dealer: A person engaged in the business of effecting transactions in securities for the account of others or for the person’s own account. N.M. Stat. Ann. § 58-13D-2(C).
Investment Advisor: A person that, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing or selling securities or that, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. “Investment adviser” includes a financial planner or other person that, as an integral component of other financially related services, provides investment advice to others for compensation as part of a business or that holds itself out as providing investment advice to others for compensation. N.M. Stat. Ann. § 58-13D-2(G).
Qualified Individual: An agent, investment adviser representative or person who serves in a supervisory, compliance or legal capacity for a broker-dealer or investment adviser. N.M. Stat. Ann. § 58-13D-2(J).
Incapacitated Adult: Any adult with a mental, physical or developmental condition that substantially impairs the adult’s ability to provide adequately for the adult’s own care or protection. N.M. Stat. Ann. § 27-7-16(L).
Eligible Adult: A person sixty-five years of age or older; or an incapacitated person who is eighteen years of age or older. N.M. Stat. Ann. § 58-13D-2(D).
Incapacitated Person: A person with a mental, physical or developmental condition that substantially impairs the person’s ability to provide adequately for the person’s own care or protection. N.M. Stat. Ann. § 58-13D-2(F).
Yes.
Any person making a report pursuant to Section 27-7-30 NMSA 1978, testifying in any judicial proceeding arising from the report or participating in a required evaluation pursuant to the Adult Protective Services Act [27-7-14 NMSA 1978] or any law enforcement officer carrying out his responsibilities under that act or any person providing records or information as required under that act shall be immune from civil or criminal liability on account of that report, testimony or participation, unless the person acted in bad faith or with a malicious purpose. N.M. Stat. Ann. § 27-7-31.
A broker-dealer, investment adviser or qualified individual who, in exercising reasonable care, complies with Section 3 [58-13D-3 NMSA 1978] of the Protecting Vulnerable Adults from Financial Exploitation Act and has completed the training required pursuant to Section 7 [58-13D-7 NMSA 1978] of that act shall be immune from any administrative or civil liability that might otherwise arise from such disclosure. N.M. Stat. Ann. § 58-13D-4.
A broker-dealer or investment adviser that, in exercising reasonable care, complies with Section 5 [58-13D-5 NMSA 1978] of the Protecting Vulnerable Adults from Financial Exploitation Act and has completed the training required pursuant to Section 7 [58-13D-7 NMSA 1978] of that act, shall be immune from any administrative or civil liability that might otherwise arise from such delay in a disbursement or transaction in accordance with this section. N.M. Stat. Ann. § 58-13D-6.
** See Senior Safe Act
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