MA H296

Creates new Chapter 110I in Massachusetts General Laws allowing broker-dealers, investment advisers, and their representatives to report suspected financial exploitation of adults age 60+ or disabled persons to the Secretary of the Commonwealth and either the Disabled Persons Protection Commission or Executive Office of Elder Affairs

Permits financial institutions to delay suspicious disbursements or transactions for up to 15 business days, extendable to 55 business days if requested by regulatory agencies, while conducting internal reviews of potential exploitation

Requires written notification to authorized account parties within 2 business days of any transaction delay, along with immediate notification to state agencies

Grants civil and administrative immunity to qualified individuals and firms that report suspected exploitation or delay transactions in good faith with reasonable care

Mandates broker-dealers and investment advisers to provide relevant account records to protective agencies and law enforcement during investigations, with such records exempt from public records disclosure