Bill Introduced to Create SEC Taskforce to Protect Senior Investors

Representative Josh Gottheimer (D-NJ) introduced a bill that would establish a "Senior Investor Taskforce" within the SEC to protect senior investors from fraud.

According to the bill, the taskforce would:

• identify challenges, such as financial exploitation and cognitive decline, that face senior investors (i.e., investors above the age of 65);

• assess whether changes to SEC or self-regulatory organization rules are necessary; and

• issue a report to Congress every two years on the taskforce's activities.

The bill will also require the Government Accountability Office to submit a report every two years on the economic costs of the financial exploitation of senior citizens.