Bill > HR1469

This bill establishes a Senior Investor Taskforce within the Securities and Exchange Commission (SEC) to address financial challenges and protect investors over the age of 65. The Taskforce will be led by a Director appointed by the SEC Chairman, who will be experienced in advocating for senior investors' interests. The Taskforce will be staffed by personnel from various SEC divisions, including Enforcement and Investor Education, and will serve without additional compensation. Its primary functions include identifying challenges senior investors face, such as financial exploitation and cognitive decline, recommending regulatory changes, and coordinating with other agencies and organizations. The Taskforce will produce a comprehensive biennial report to congressional committees, detailing trends, regulatory initiatives, key observations, and recommendations for improving senior investor protections. Additionally, the bill mandates a Government Accountability Office (GAO) study within two years to analyze the economic costs, frequency, and factors contributing to financial exploitation of seniors, as well as examine current reporting mechanisms and policy responses. The Taskforce is set to operate for 10 years and will use existing SEC funds to carry out its mission.

Business and Industry, Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/house-bill/1469/all-info