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.
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