FSI Applauds Senate’s Passage of Senior Safe Act

The U.S. Senate passed the Senior Safe Act as part of S. 2155. Below is a statement from Dale Brown, FSI President & CEO:

“FSI applauds the Senate’s passage of the critical Senior Safe Act. The Senior Safe Act is a big step forward in the prevention of elder financial abuse by allowing financial services firms and advisors to report potential financial abuse without fear of violating privacy laws. It also standardizes training to help identify and report instances of suspected abuse. We urge the House of Representatives to pass this critical legislation in a timely manner to help ensure our nation’s seniors are protected from abuse.”

About the Financial Services Institute (FSI): The Financial Services Institute (FSI) is the only organization advocating solely on behalf of independent financial advisors and independent financial services firms. Since 2004, through advocacy, education and public awareness, FSI has successfully promoted a more responsible regulatory environment for more than 100 independent financial services firm members and their 160,000+ affiliated financial advisors – which comprise over 60% of all producing registered representatives. We effect change through involvement in FINRA governance as well as constructive engagement in the regulatory and legislative processes, working to create a healthier regulatory environment for our members so they can provide affordable, objective advice to hard-working Main Street Americans. For more information, please visit financialservices.org.