What is the Issue?  

Reports estimate that one in five Americans over the age of 65 has been victim to financial exploitation. Financial advisors are often the first to notice the signs of possible financial abuse of their senior investor clients and are best positioned to report it. But what happens when a victim is coached to go around their financial advisor and directly to their broker or mutual fund company?  

The Financial Exploitation Prevention Act aims to close this loophole by allowing companies to delay the redemption of securities if they reasonably believe the redemption was requested through the financial exploitation of a security holder who is a senior or an individual unable to protect their own interests. 

What is FSI doing on my behalf? 

We have been working all year with the House and Senate bill sponsors to move this important legislation forward.

 Why is action needed now?  

Senators Bill Hagerty (R-TN) and Ruben Gallego (D-AZ) are working to pass the Senate version through a process known as unanimous consent, which requires all 50 Senators to support it. To help this process, they have asked us to secure as many bipartisan co-sponsors for the legislation as possible. We urge you to contact your Senator’s office to express your support for this important legislation. Your firsthand stories and examples are a powerful way to make a difference. 

What do I need to do to ensure my voice is heard? 

Send a message to your Members of Congress asking them to support the Financial Exploitation Prevention Act.  

Member Instructions:  

Please complete this form.  Providing this information will send your message to the correct policymakers. For your convenience, we have provided suggested language.  Finally, click the "Submit Your Message" button to send your message. We strongly suggest you use your business email address.  

Thank you for supporting our advocacy efforts and letting your voice be heard.