MS HB1003

Requires broker-dealers and investment advisers registered under Mississippi securities law to immediately forward reports of suspected vulnerable person exploitation to the Secretary of State (in addition to the Department of Human Services).

Allows broker-dealers and investment advisers to delay customer disbursements for up to 15 business days if they reasonably believe the withdrawal may result in financial exploitation.

Requires internal review and reporting of results to the Secretary of State and Department of Human Services within 7 business days when a disbursement is delayed under this section.

Permits the Secretary of State to request an additional 10-day extension of the disbursement delay, and allows courts to extend delays or order protective relief based on petitions from the Secretary of State or other interested parties.

Provides immunity from administrative or civil liability for persons making disclosures or delaying disbursements in compliance with this section, and establishes penalties for non-compliance matching those under the Mississippi Vulnerable Persons Act.