In the state, which has one of the highest population of old residents in the United States, the regulators at New Hampshire are now counting upon a new ordinance to protect increasing number of the vulnerable adults.
This law allows the investment advisers and the brokerage firms for securities to delay the funds disbursements from any investment account only if they think that it might result in the exploitation, mentioned the New Hampshire Bureau of Securities Regulation on Friday. This law shall come into effect starting 8th September.
The Bureau Director, Barry Glennon mentioned that this latest law serves as the significant step forward into the protection of elderly as well as vulnerable adults that might experience loss due to the individuals seeking benefit from them. He further added that New Hampshire has the 2nd oldest population with average age lining towards the older side. With the accelerating numbers for baby boomers that have been approaching the retirement age, it is important that the officials protect this aging population.
One among 5 older Americans tends to be the victim of rapidly increasing financial exploitation every year, as confirmed by the 2016 report published by AARP Public Policy Institute.