Today, the Florida Legislature passed House Bill 813, which allows securities dealers and investment advisors to delay suspicious transactions or disbursements based on a reasonable belief of financial exploitation.  This bill was a multi-year, collaborative effort undertaken by the FSDA, Financial Services Institute, SIFMA and other industry organizations working alongside the Office of Financial Regulation and the Elder Section of the Florida Bar.  With the passage of HB 813, Florida now becomes the 30th state in the union to pass a state report and hold law.

Representatives Lawrence McClure (R-Tampa), Representative Byron Donalds (R-Naples), Senator Doug Broxson (R-Pensacola) and others worked tirelessly to ensure final passage and are to be commended for their efforts.   Attorney General Ashley Moody and CFO Jimmy Patronis are also to be commended for their support of the Legislation.  We are optimistic Governor Ron DeSantis will sign the measure and will be working with other industry organizations to ensure the Governor has all relevant information on this very good and necessary legislation that will protect the hard earned assets of our seniors in Florida.

Final Bill text can be found here:  HB 813<https://www.flsenate.gov/Session/Bill/2020/813/BillText/c2/PDF>