MO SB244

Qualified individuals at broker-dealers may report suspected financial exploitation of adults age 60+ or disabled adults ages 18-59 to the Department of Health and Senior Services and the Commissioner of Securities

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

Courts may extend the disbursement hold or grant other protective relief beyond the initial 10 business day period

Broker-dealers, agents, and qualified individuals acting in good faith with reasonable care are immune from civil liability when reporting suspected exploitation or refusing disbursements under this act

Commissioner of Securities required to develop a website with training resources on preventing and detecting financial exploitation of qualified adults by September 1, 2016