H.R. 1469 — National Senior Investor Initiative Act of 2025

This section establishes the short title of the Act as the “National Senior Investor Initiative Act of 2025” or the “Senior Security Act of 2025.”

This section establishes within the Securities and Exchange Commission the Senior Investor Taskforce and directs the Commission to use existing funds to carry it out. The Taskforce must be led by a Director appointed by the Chairman, in consultation with the Commission, from among current Commission employees or outside individuals with experience advocating for senior investors, and the Director must report directly to the Chairman. The Chairman must staff the Taskforce sufficiently to carry out its duties and include personnel from the Division of Enforcement, the Office of Compliance Inspections and Examinations, and the Office of Investor Education and Advocacy, while minimizing duplication with other Commission offices and taskforces. Members of the Taskforce serve without additional compensation. The Taskforce must identify challenges facing senior investors, including financial exploitation and cognitive decline; identify areas where Commission regulations or self-regulatory organization rules should change; coordinate with other Commission offices, other taskforces, self-regulatory organizations, and the Elder Justice Coordinating Council; and consult with State securities and law enforcement authorities, State insurance regulators, and other Federal agencies. It must issue a report every 2 years to the Senate Committee on Banking, Housing, and Urban Affairs, the Senate Special Committee on Aging, and the House Committee on Financial Services, with the first report delayed until after the report required by section 3 of the National Senior Investor Initiative Act of 2025 has been issued and considered. The report must include statistical information, trend analysis, summaries of regulatory initiatives and industry practices, observations from examinations and enforcement actions, an assessment of broker-dealer and investment adviser policies and procedures, recommendations for regulatory and legislative changes, and any other information the Director considers appropriate. The Taskforce terminates after 10 years from enactment. For purposes of this subsection, a senior investor is an investor over the age of 65.

This section directs the Comptroller General of the United States to submit to Congress and the Senior Investor Taskforce, not later than 2 years after enactment, a Government Accountability Office study on the financial exploitation of senior citizens. The study must examine: (1) the economic costs of such exploitation, including losses borne by victims, costs incurred by State and Federal agencies, law enforcement and investigatory agencies, public benefit and public health programs, the private sector, and other relevant costs necessary to provide a full and accurate accounting; (2) the frequency of senior financial exploitation and contributing factors, including the percentage of senior citizens financially exploited each year and risk factors such as race, social isolation, income, net worth, religion, region, occupation, education, home ownership, illness, and loss of spouse; and (3) policy responses and reporting practices, including the extent to which exploitation is unreported, why it is unreported, which Federal, State, and local entities receive reports, what information they collect, what actions they take, and any limits on their ability to prevent exploitation or respond effectively, as well as gaps and legal hurdles affecting coordination among agencies and private professionals. This section defines “senior citizen” as an individual over the age of 65.