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CFP Board Urges Senate To Pass Bill to Protect Seniors

May 16, 2023

On Monday, May 15, 2023, CFP Board cosigned a letter sent to Senators Bill Hagerty (R-TN) and Jon Tester (D-MT) expressing strong support for the Financial Exploitation Prevention Act (S. 1481/H.R 500).

The bipartisan legislation provides an important safeguard between financial transactions by allowing a registered investment company or transfer agent to delay redemption of a security if it reasonably believes such redemption was requested through the exploitation of a security holder who is a senior or unable to protect their own interests.

The legislation received unanimous support in the House and must now pass the Senate.

View Letter