Exploitation of Vulnerable Adults (NASAA Model Act, 2016)
Chapters in this video
- 0:00 Eligible adult and qualified individual defined
- 0:45 The reasonable belief trigger and mandatory reporting
- 2:15 Third-party disclosure trap: when permission evaporates
- 3:39 Delay workflow: 2 days, 7 days, and 15 business days
- 4:50 Extended delay at 25 business days and court orders
- 5:18 Good faith immunity shield
- 5:48 Records access and public records exemption
- 6:15 Mandatory versus permissive matrix recap
What this video covers
- Who qualifies as an eligible adult (age 65+ or subject to adult protective services) and who is a qualified individual (agent, investment adviser representative, or supervisory/compliance/legal staff at a broker-dealer or investment adviser)
- Why "reasonable belief" rather than proof is the trigger for mandatory reporting to both Adult Protective Services and the state securities administrator, not one or the other
- Which actions are mandatory (reporting to agencies, providing records) versus permissive (third-party disclosure, delaying disbursements) and how the exam uses "shall" versus "may" as trap language
- When a qualified individual may notify a previously designated third party, and the critical exception when that third party is the suspected exploiter
- The step-by-step workflow for delaying disbursements, including the 2-business-day notifications, 7-business-day internal review report, and 15-business-day standard maximum
- How the 25-business-day extended delay works at the request of APS or the Administrator, and the role of court orders for indefinite extension
- The scope of immunity for government disclosures, third-party disclosures, and delayed disbursements, including immunity for failure to notify the customer
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