State Securities Regulators to Offer Training to BDs and IAs

WASHINGTON, DC (March 30, 2016) – As the latest step in a multi-faceted effort to address the serious problem of elder financial abuse, the North American Securities Administrators Association (NASAA) announced that it is offering a training program for state regulators to help train broker-dealers and investment advisers in identifying and reporting suspected elder financial abuse.

NASAA’s version of the “Senior$afe” training for securities industry professionals was developed using a similar program for bank and credit union tellers created by the Maine Council for Elder Abuse Prevention. The Maine Council supports NASAA’s retooling of the program and appreciates the opportunity to increase training for financial professionals of all types.

“I am excited about the work we’ve done to make Senior$afe a valuable tool for our state members to help train broker-dealers and investment advisers,” said Judith Shaw, NASAA President and Maine Securities Administrator. “Recognizing the signs of cognitive decline and financial exploitation is critical if we are to protect elderly and vulnerable investors. Financial professionals are uniquely positioned to identify red flags of fraud and abuse. We can all work together to provide a solution.”

“As a member of the Maine Council for Elder Abuse Prevention, I have seen how banks and credit unions and their customers have benefited from this program. Not only is it an effective educational tool, but it also sets forth a reporting and referral protocol that increases the likelihood that vulnerable adults will be protected. We are grateful that the Maine Council was willing to share this successful program with us,” Shaw said.

NASAA will roll out the training program to its members in April. In addition to a comprehensive training presentation, the Senior$afe training program materials include a consumer brochure, a quick response chart and guide to red flags of elder financial abuse, and can be customized to include local reporting and referral contacts.

The Senior$afe training program for securities professionals is the latest component of NASAA’s ongoing senior initiative. In February, NASAA announced that its members voted to adopt a model act designed to protect vulnerable adults from financial exploitation. The full text of the model act is available on the Policymakers section of NASAA’s new website,, which launched in December 2015 to provide senior-focused resources to investors, caregivers, industry members and policymakers. The website is available at

For More Information:
Bob Webster | Director of Communications