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Protecting Senior Investors: Establishing SEC Taskforce Against Financial Exploitation.

This Act establishes a dedicated Senior Investor Taskforce within the Securities and Exchange Commission (SEC) to protect citizens aged 65 and older from financial exploitation and investment fraud. The Taskforce will identify vulnerabilities, recommend regulatory improvements, and coordinate efforts to safeguard the savings of older Americans. It also mandates a comprehensive government study on the economic costs and frequency of financial exploitation targeting seniors.
Key points
Creation of a federal Senior Investor Taskforce within the SEC specifically dedicated to preventing financial exploitation of investors aged 65 and older.
The Taskforce will analyze regulatory gaps and propose changes to rules to better protect seniors' savings from fraud and issues related to cognitive decline.
Requires the Government Accountability Office (GAO) to conduct a detailed study on the economic costs and contributing factors of financial exploitation of senior citizens to inform future protective policies.
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Additional Information
Print number: 118_S_955
Sponsor: Sen. Sinema, Kyrsten [I-AZ]
Process start date: 2023-03-23
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OFFICIAL LEGAL TITLE

Senior Security Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_955.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-23.

What are the main provisions?

Key points include:

  • Creation of a federal Senior Investor Taskforce within the SEC specifically dedicated to preventing financial exploitation of investors aged 65 and older.
  • The Taskforce will analyze regulatory gaps and propose changes to rules to better protect seniors' savings from fraud and issues related to cognitive decline.
  • Requires the Government Accountability Office (GAO) to conduct a detailed study on the economic costs and contributing factors of financial exploitation of senior citizens to inform future protective policies.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Sinema, Kyrsten [I-AZ].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy Security