DE HB88

Reorganizes the Delaware Securities Act into seven subchapters and clarifies that viatical settlement contracts, annuity contracts, and advance fee agreements are securities under the law.

Amends anti-fraud provisions to allow reckless conduct to satisfy scienter requirements and eliminates the need for government enforcement actions to prove loss, proximate cause, reliance, or scienter for false statement violations.

Increases registration and filing fees for securities and persons registered under the Act, with ranges of $500-$1,500 for securities registrations and higher fees for broker-dealers and investment advisers.

Creates enhanced criminal penalties for violations harming elderly, infirm, or disabled persons (victims 62 years or older), escalating felony classifications and increasing imprisonment and fine limits.

Adds a 30-day rescission right for viatical settlement contract investors (excluding institutional and accredited investors), establishes mechanisms to enforce administrative orders through Superior Court judgments, and increases Investor Protection Fund resources.