Nationwide Reporting Chart
For Suspected Exploitation Of Seniors And/Or Vulnerable Persons
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Fla. Stat. § 415.102(28).
Fla. Stat. § 415.1036(1).
Fla. Stat. § 517.34(1)(b), (3)-(4), (6)
Fla. Stat. 415.10341 (effective January 1, 2025)
(Mandated? Permissive?)
Any person, including bank, savings and loan, or credit union officer, trustee, or employee or dealer, investment advisor, or associated person if victim is a vulnerable adult. (Mandated)
(Y/N)
Yes, a dealer or investment advisor may delay. Fla. Stat. § 517.34(3).
A delay on a disbursement or transaction under subsection (3) expires 15 business days after the date on which the delay was first placed. However, the dealer or investment adviser may extend the delay for up to 10 additional business days if the dealer’s or investment adviser’s review of the available facts and circumstances continues to support such dealer’s or investment adviser’s reasonable belief that financial exploitation of the specified adult has occurred, is occurring, has been attempted, or will be attempted. A dealer or investment adviser that extends a delay must notify the office on a form prescribed by commission rule not later than 3 business days after the date on which the extension was applied. The notice must identify the dealer or investment adviser that extended the delay and the date on which the delay was originally made. The length of the delay may be shortened or extended at any time by a court of competent jurisdiction. This subsection does not prevent a dealer or investment adviser from terminating a delay after communication with the parties authorized to transact business on the account and any trusted contact on the account. Fla. Stat. § 517.34(4).
Yes, a financial institution may delay. Fla. Stat. § 415.10341
Protection of specified adults: If a financial institution reports suspected financial exploitation of a specified adult pursuant to s. 415.1034, it may delay a disbursement or transaction from an account of a specified adult or an account for which a specified adult is a beneficiary or beneficial owner if all of the following apply: (a) The financial institution promptly initiates an 90 internal review of the facts and circumstances that caused an employee of the financial institution to report suspected financial exploitation. (b) Not later than 3 business days after the date on which the delay was first placed, the financial institution: 1. Notifies in writing all parties authorized to transact business on the account and any trusted contact on the account, using the contact information provided for the account, with the exception of any party an employee of the financial institution reasonably believes has engaged in, is engaging in, has attempted to engage in, or will attempt to engage in the suspected financial exploitation of the specified adult. The notice, which may be provided electronically, must provide the reason for the delay. 2. Creates and maintains for at least 5 years from the date of the delayed disbursement or transaction a written or electronic record of the delayed disbursement or transaction that includes, at minimum, the following information: a. The date on which the delay was first placed. b. The name and address of the specified adult. c. The business location of the financial institution. d. The name and title of the employee who reported suspected financial exploitation of the specified adult pursuant to s. 415.1034. e. The facts and circumstances that caused the employee to report suspected financial exploitation. (4) A delay on a disbursement or transaction under subsection (3) expires 15 business days after the date on which the delay was first placed. However, the financial institution may extend the delay for up to 30 additional business days if the financial institution’s review of the available facts and circumstances continues to support the reasonable belief that financial exploitation of the specified adult has occurred, is occurring, has been attempted, or will be attempted. The length of the delay may be shortened or extended at any time by a court of competent jurisdiction. This subsection does not prevent a financial institution from terminating a delay after communication with the parties authorized to transact business on the account and any trusted contact on the account.
Any person, including, but not limited to, any: physician, osteopathic physician, medical examiner, chiropractic physician, nurse, paramedic, emergency medical technician, or hospital personnel engaged in the admission, examination, care, or treatment of vulnerable adults; health professional or mental health professional other than one listed above; practitioner who relies solely on spiritual means for healing; nursing home staff; assisted living facility staff; adult day care center staff; adult family-care home staff; social worker; or other professional adult care, residential, or institutional staff; state, county, or municipal criminal justice employee or law enforcement officer; employee of the Department of Business and Professional Regulation conducting inspections of public lodging establishments under s. 509.032; Florida advocacy council or Disability Rights Florida member or a representative of the State Long-Term Care Ombudsman Program; or bank, savings and loan, or credit union officer, trustee, or employee, or dealer, investment adviser, or associated person under chapter 517. Fla. Stat. § 415.1034(1)(a).
Vulnerable Adult: A person 18 years of age or older whose ability to perform the normal activities of daily living or to provide for his or her own care or protection is impaired due to a mental, emotional, sensory, long-term physical, or developmental disability or dysfunction, or brain damage, or the infirmities of aging. Fla. Stat. § 415.102(28).
Specified Adult: A natural person 65 years of age or older, or a vulnerable adult as defined in s. 415.102. Fla. Stat. § 517.34(1)(b); Fla. Stat. § 415.10341. (Only applies to “report and hold” situations in which disbursement is delayed).
Yes.
Any person who participates in making a report under s. 415.1034 or participates in a judicial proceeding resulting therefrom is presumed to be acting in good faith and, unless lack of good faith is shown by clear and convincing evidence, is immune from any liability, civil or criminal, that otherwise might be incurred or imposed. Fla. Stat. § 415.1036(1).
A dealer, an investment adviser, or an associated person who in good faith and exercising reasonable care complies with this section is immune from any administrative or civil liability that might otherwise arise from such delay in a disbursement or transaction in accordance with this section. This subsection does not supersede or diminish any immunity granted under chapter 415. Fla. Stat. § 517.34(6)
** Senior Safe Act
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