MI SB0345

Allows broker-dealers and investment advisers to provide access to records relevant to suspected or attempted financial exploitation of financially endangered adults to state adult protective services agencies and law enforcement either as referrals or upon request during investigations.

Permits sharing of both historical records and records relating to recent disbursements or transactions that may constitute financial exploitation, with all shared records marked confidential and exempt from Freedom of Information Act disclosure.

Does not limit the securities administrator's existing authority to access or examine books and records of broker-dealers and investment advisers under current law.

Requires the administrator to develop and publish training resources on the website by January 1, 2018 covering indicators of financial exploitation and preventive steps broker-dealers and qualified individuals can take under state law.

Authorizes the administrator to promulgate rules under the Administrative Procedures Act to implement these provisions; takes effect 90 days after enactment, conditioned on Senate Bill No. 346 also being enacted into law.