MS SB2911

Requires broker-dealers and investment advisers registered under the Mississippi Securities Act to immediately forward reports filed with the Department of Human Services under the Vulnerable Persons Act to the state administrator.

Permits broker-dealers and investment advisers to delay transactions for up to 15 business days if they reasonably believe a transaction may result in financial exploitation of a customer, with notification to the administrator and authorized account parties within 2 business days.

Allows the administrator to request a 10-day extension of transaction delays, with authority for courts to extend or terminate delays upon petition by the administrator or Department of Human Services.

Grants immunity from administrative or civil liability to persons who make disclosures or delay transactions under this section.

Imposes penalties under the Vulnerable Persons Act for failure to comply with reporting requirements, effective July 1, 2017.