Financial Exploitation of Specified Adults

What this video covers

• Who qualifies as a specified adult: the 65-plus age prong and the 18-plus with mental or physical impairment prong, and why exam writers love the 35-year-old with early-onset Alzheimer's trap
• What triggers a temporary hold: the "reasonable belief" standard for financial exploitation, and why certainty is not required before acting
• The scope of the hold: how it covers both disbursements of funds and transactions in securities, not merely cash after a sale
• The representative versus firm roles: why the registered representative escalates red flags and the supervisory, compliance, or legal team evaluates and places the hold
• The Trusted Contact Person (TCP): what they are, what they cannot do (no trading, no withdrawals, no financial decisions), and why the firm makes reasonable efforts but cannot force a customer to name one
• The notification requirements: who must be notified within two business days and the critical exception when a party is believed involved in the exploitation
• The temporary hold timeline: 15 business days initial, 25 business days with internal review extension, and 55 business days maximum when reported to a state regulator or court