Nationwide Reporting Chart
For Suspected Exploitation Of Seniors And/Or Vulnerable Persons
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Tex. Hum. Res. Code Ann. § 48.051(a).
Tex. Fin. Code Ann. § 281.001(5).
Tex. Fin. Code Ann. § 281.002(a), (b).
Tex. Fin. Code Ann. § 281.005(a)-(b).
Tex. Fin. Code Ann. § 281.004(a)-(c).
Tex. Gov't Code § 4004.352(a), (b)
Tex. Govt. Code § 4004.355.
Tex. Gov't Code § 4004.356.
Tex. Hum. Res. Code § 48.251(9).
(Mandated? Permissive?)
An employee of a financial institution. (Mandated)
A financial institution, if notified of suspected financial exploitation. (Mandated)
A securities professional. (Mandated)
A dealer or investment advisor, if notified of suspected exploitation. (Mandated)
A person. (Mandated)
(Y/N)
Yes, an employee of a financial institution may delay, and must delay if requested by the Department of Family and Protective Services or law enforcement. Tex. Fin. Code Ann. § 281.004(a).
Notwithstanding any other law, a financial institution: (1) may place a hold on any transaction that involves an account of a vulnerable adult if the financial institution:(A) submits a report of suspected financial exploitation of the vulnerable adult to the department under Section 281.002(b); and (B) has cause to believe the transaction is related to the suspected financial exploitation alleged in the report; and (2) must place a hold on any transaction involving an account of a vulnerable adult if the hold is requested by the department or a law enforcement agency. (b) Subject to Subsection (c), a hold placed on any transaction under Subsection (a) expires on the 10th business day after the date the hold is placed. (c) The financial institution may extend a hold placed on any transaction under Subsection (a) for a period not to exceed 30 business days after the expiration of the period prescribed by Subsection (b) if requested by a state or federal agency or a law enforcement agency investigating the suspected financial exploitation. The financial institution may also petition a court to extend a hold placed on any transaction under Subsection (a) beyond the period prescribed by Subsection (b). A court may enter an order extending or shortening a hold or providing other relief. Tex. Fin. Code Ann. § 281.004(a)-(c).
Yes, a dealer or investment advisor may delay, and must delay if requested by the commissioner, the department, or a law enforcement agency. Tex. Govt. Code § 4004.355(a)(1)-(2). Notwithstanding any other law, a dealer or investment adviser: (1) may place a hold on any transaction that involves an account of a vulnerable adult if the dealer or investment adviser: (A) submits a report of suspected financial exploitation of the vulnerable adult to the commissioner and the department under Section 4004.352(b); and (B) has cause to believe the transaction is related to the suspected financial exploitation alleged in the report; and (2) must place a hold on any transaction involving an account of a vulnerable adult if the hold is requested by the commissioner, the department, or a law enforcement agency. (b) Subject to Subsection (c), a hold placed on any transaction under Subsection (a) expires on the 10th business day after the date the hold is placed. (c) A dealer or investment adviser may extend a hold placed on any transaction under Subsection (a) for a period not to exceed 30 business days after the expiration of the period prescribed by Subsection (b) if requested by a state or federal agency or a law enforcement agency investigating the suspected financial exploitation. The dealer or investment adviser may also petition a court to extend a hold placed on any transaction under Subsection (a) beyond the period prescribed by Subsection (b). A court may enter an order extending or shortening a hold or providing other relief. Tex. Govt. Code § 4004.355.
If an employee of a financial institution has cause to believe that financial exploitation of a vulnerable adult who is an account holder with the financial institution has occurred, is occurring, or has been attempted, the employee shall notify the financial institution of the suspected financial exploitation. Tex. Fin. Code Ann. § 281.002(a).
If a financial institution is notified of suspected financial exploitation under Subsection (a) or otherwise has cause to believe that financial exploitation of a vulnerable adult who is an account holder with the financial institution has occurred, is occurring, or has been attempted, the financial institution shall assess the suspected financial exploitation and submit a report to the department in the same manner as and containing the same information required to be included in a report under Section 48.051, Human Resources Code. Tex. Fin. Code Ann. § 281.002(b).
If a securities professional or a person serving in a legal capacity for a dealer or investment adviser has cause to believe that financial exploitation of a vulnerable adult who is an account holder with the dealer or investment adviser has occurred, is occurring, or has been attempted, the securities professional or person serving in a legal capacity for the dealer or investment adviser shall notify the dealer or investment adviser of the suspected financial exploitation. Tex. Gov’t Code § 4004.352(a). If a dealer or investment adviser is notified of suspected financial exploitation under Subsection (a) or otherwise has cause to believe that financial exploitation of a vulnerable adult who is an account holder with the dealer or investment adviser has occurred, is occurring, or has been attempted, the dealer or investment adviser shall assess the suspected financial exploitation and submit a report. Tex. Gov’t Code § 4004.352(b)
A person having cause to believe that an elderly person a person with a disability, or an individual receiving services from a provider as described by Subchapter F is in the state of abuse, neglect, or exploitation shall report. Tex. Hum. Res. Code Ann. § 48.051(a)
Provider: A facility; a community center, local mental health authority, and local intellectual and developmental disability authority; a person who contracts with a health and human services agency or managed care organization to provide home and community-based services; a person who contracts with a Medicaid managed care organization to provide behavioral health services; a managed care organization; an officer, employee, agent, contractor, or subcontractor of a person or entity listed in above paragraphs; and an employee, fiscal agent, case manager, or service coordinator of an individual employer participating in the consumer-directed service option, as defined by Section 531.051, Government Code. Tex. Hum. Res. Code § 48.251(9).
Elderly: A person 65 years of age or older. Tex. Hum. Res. Code Ann. § 48.002(a)(1).
Person with a Disability: A person with a mental, physical, or developmental disability that substantially impairs the person’s ability to provide adequately for the person’s care or protection and who is: (A) 18 years of age or older; or (B) under 18 years of age and who has had the disabilities of minority removed. Tex. Hum. Res. Code Ann. § 48.002(a)(8).
Vulnerable Adult: An elderly person as that term is defined by Section 48.002, Human Resources Code; a person with a disability as that term is defined by Section 48.002, Human Resources Code; or an individual receiving services as that term is defined by rule by the executive commissioner of the Health and Human Services Commission as authorized by Section 48.251(b), Human Resources Code. Tex. Fin. Code Ann. § 281.001(5).
Securities Professional: An agent, an investment adviser representative, or a person who serves in a supervisory or compliance capacity for a dealer or investment adviser. Tex. Rev. Civ. Stat. Art. 581-45(A)(3).
Yes.
An employee of a financial institution who makes a notification under Section 281.002(a), a financial institution that submits a report under Section 281.002(b) or makes a notification to a third party under Section 281.003, or an employee who or financial institution that testifies or otherwise participates in a judicial proceeding arising from a notification or report is immune from any civil or criminal liability arising from the notification, report, testimony, or participation in the judicial proceeding, unless the employee or financial institution acted in bad faith or with a malicious purpose. Tex. Fin. Code Ann. § 281.005(a).
A financial institution that in good faith and with the exercise of reasonable care places or does not place a hold on any transaction under Section 281.004(a)(1) is immune from any civil or criminal liability or disciplinary action resulting from that action or failure to act. Tex. Fin. Code Ann. § 281.005(b).
A securities professional or person serving in a legal capacity for a dealer or investment adviser who makes a notification under Section 4004.352(a), a dealer or investment adviser that submits a report under Section 4004.352(b) or makes a notification to a third party under Section 4004.354, or a securities professional or person serving in a legal capacity who or dealer or investment adviser that testifies or otherwise participates in a judicial proceeding arising from a notification or report is immune from any civil or criminal liability arising from the notification, report, testimony, or participation in the judicial proceeding, unless the securities professional, person serving in a legal capacity for the dealer or investment adviser, or dealer or investment adviser acted in bad faith or with a malicious purpose. (b) A dealer or investment adviser that in good faith and with the exercise of reasonable care places or does not place a hold on any transaction under Section 4004.355(a)(1) is immune from civil or criminal liability or disciplinary action resulting from the action or failure to act. (V.A.C.S. Art. 581-45, Subsecs. K, L.). Tex. Gov’t Code § 4004.356.
** See Senior Safe Act
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