Summary

Creates a Senior Investor Taskforce inside the Securities and Exchange Commission to study and address problems facing investors age 65 and older. The taskforce will coordinate across the SEC and with outside partners, issue a detailed report every two years, and sunset after 10 years. It must use existing SEC funds. Directs the Comptroller General (GAO) to conduct a nationwide study of financial exploitation of seniors and deliver findings to Congress and the taskforce within two years. The study will measure economic costs, prevalence, risk factors, and assess reporting, policy responses, gaps, and legal barriers. “Senior citizen” means an individual over age 65.

• Creates a Senior Investor Taskforce within the SEC focused on investors age 65+.
• Requires a biennial report on senior investor risks, findings, and recommendations.
• Taskforce must coordinate and consult with internal and external stakeholders.
• Sunsets the taskforce after 10 years unless renewed by law.
• Mandates use of existing SEC funds; no new appropriations.
• Directs GAO to study the financial exploitation of seniors and report within 2 years.
• GAO study must assess costs, prevalence, risk factors, reporting, policy responses, gaps, and legal barriers.
• Defines senior citizens as individuals over age 65.