FL S0662

Requires securities dealers, investment advisers, and associated persons to immediately report knowledge or suspicion of abuse, neglect, or exploitation of vulnerable adults to the Department of Children and Families' central abuse hotline.

Authorizes dealers, investment advisers, and associated persons to delay transactions or disbursements on accounts of specified adults (persons 65+ or vulnerable adults) if they reasonably believe exploitation has occurred, is occurring, has been attempted, or will be attempted.

Establishes a 15 business-day delay period that may be extended up to 10 additional business days, with delays subject to modification or termination by courts, agencies, or through communication with the specified adult or trusted contact.

Requires dealers and investment advisers to notify the Office of Financial Regulation quarterly of all delays placed and to train associated persons on exploitation recognition and prevention, with initial training required by July 1, 2019, and biennial training thereafter.

Provides immunity from civil and administrative liability to dealers, investment advisers, and associated persons acting on a reasonable belief of exploitation, and authorizes sharing of account records with the Department of Children and Families and law enforcement agencies upon request.