MO HB636

Authorizes broker-dealer personnel to notify the Department of Health and Senior Services and Commissioner of Securities when they reasonably believe financial exploitation of a qualified adult (persons 60+ or disabled adults 18-59) has occurred or is being attempted

Permits broker-dealers to refuse disbursement requests for up to 10 business days if they reasonably believe the transaction would result in financial exploitation, provided they notify authorized account parties within 2 business days and agencies within 3 business days

Grants civil liability immunity to broker-dealers, agents, and qualified individuals who comply with the notification and disbursement refusal provisions in good faith and with reasonable care

Allows broker-dealers to share relevant account records with agencies and law enforcement investigating suspected financial exploitation, with such records exempt from public records laws

Requires the Commissioner of Securities to develop a training website by September 1, 2016 with resources on indicators of financial exploitation and prevention steps for broker-dealers and agents