,,ii #aadth ,,congress #b;d ,session ,h4 ,r4 #dech ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,july #f1 #bjaf,received ,,an ,,act ,to provide immunity from suit for certain individuals who disclose potential examples of financial exploitation of senior citizens1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,senior ,safe ,act of #bjaf4 #b4 ,immunity 7a7 ,definitions ,in this ,act-- 7#a7 the term ,bank ,secrecy ,act ,officer means an individual responsible for ensuring compliance with the requirements mandated by subchapter ,,ii of chapter #ec of title #ca1 ,united ,states ,code2 7#b7 the term broker-dealer means a broker or dealer1 as those terms are defined1 respectively1 in section #c7;a7 of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #gh;c7a772 7#c7 the term covered agency means-- 7,a7 a ,state financial regulatory agency1 including a ,state securities or law enforcement authority and a ,state insurance regulator2 7,b7 each of the ,federal financial institutions regulatory agencies2 7,c7 the ,securities and ,exchange ,commission2 7,d7 a law enforcement agency2 7,e7 and ,state or local agency responsible for administering adult protective service laws2 and 7,f7 a ,state attorney general4 7#d7 the term covered financial institution means-- 7,a7 a credit union2 7,b7 a depository institution2 7,c7 an investment advisor2 7,d7 a broker-dealer2 7,e7 an insurance company2 and 7,f7 a ,state attorney general4 7#e7 the term credit union means a ,federal credit union1 ,state credit union1 or ,state-chartered credit union1 as those terms are defined in section #aja of the ,federal ,credit ,union ,act 7#ab ,u4,s4,c4 #ageb72 7#f7 the term depository institution has the meaning given the term in section #c7;c7 of the ,federal ,deposit ,insurance ,act 7#ab ,u4,s4,c4 #ahac7;c772 7#g7 the term exploitation means the fraudulent or otherwise illegal1 unauthorized1 or improper act or process of an individual1 including a caregiver or fiduciary1 that-- 7,a7 uses the resources of a senior citizen for monetary personal benefit1 profit1 or gain2 or 7,b7 results in depriving a senior citizen of rightful access to or use of benefits1 resources1 belongings or assets2 7#h7 the term ,federal financial institutions regulatory agencies has the meaning given the term in section #ajjc of the ,federal ,financial ,institutions ,examination ,council ,act of #aigh 7#ab ,u4,s4,c4 #ccjb72 7#i7 the term investment adviser has the meaning given the term in section #bjb of the ,investment ,advisers ,act of #aidj 7#ae ,u4,s4,c4 #hj;b-#b72 7#aj7 the term insurance company has the meaning given the term in section #b7;a7 of the ,investment ,company ,act of #aidj 7#ae ,u4,s4,c4 #hj;a-#b7;a772 7#aa7 the term registered representative means an individual who represents a broker-dealer in effecting or attempting to affect a purchase or sale of securities2 7#ab7 the term senior citizen means an individual who is not less than #fe years of age2 7#ac7 the term ,state insurance regulator has the meaning given such term in section #cae of the ,gramm-,leach-,bliley ,act 7#ae ,u4,s4,c4 #fgce72 and 7#ad7 the term ,state securities or law enforcement authority has the meaning given the term in section #bd7;f77#d7 of the ,securities ,exchange ,act of #aicd 7#ae ,u4,s4,c4 #ghx7f77#d774 7b7 ,immunity from suit 7#a7 ,immunity for individuals ,an individual who has received the training described in section #c shall not be liable1 including in any civil or administrative proceeding1 for disclosing the possible exploitation of a senior citizen to a covered agency if the individual1 at the time of the disclosure-- 7,a7 served as a supervisor1 compliance officer 7including a ,bank ,secrecy ,act ,officer71 or registered representative for a covered financial institution2 and 7,b7 made the disclosure with reasonable care including reasonable efforts to avoid disclosure other than to a covered agency4 7#b7 ,immunity for covered financial institutions ,a covered financial institution shall not be liable1 including in any civil or administrative proceeding1 for a disclosure made by an individual described in paragraph 7#a7 if-- 7,a7 the individual was employed by1 or1 in the case of a registered representative1 affiliated or associated with1 the covered financial institution at the time of the disclosure2 and 7,b7 before the time of the disclosure1 the covered financial institution provided the training described in section #c to each individual described in section #c7;a74 #c4 ,training required 7a7 ,in general ,a covered financial institution may provide training described in subsection 7b77#a7 to each officer or employee of1 or registered representative affiliated or associated with1 the covered financial institution who-- 7#a7 is described in section #b7;b77#a77;,a72 7#b7 may come into contact with a senior citizen as a regular part of the duties of the officer1 employee1 or registered representative2 or 7#c7 may review or approve the financial documents1 records1 or transactions of a senior citizen in connection with providing financial services to a senior citizen4 7b7 ,training 7#a7 ,in general ,the training described in this paragraph shall-- 7,a7 instruct any individual attending the training on how to identify and report the suspected exploitation of a senior citizen2 7,b7 discuss the need to protect the privacy and respect the integrity of each individual customer of a covered financial institution2 and 7,c7 be appropriate to the job responsibilities of the individual attending the training4 7#b7 ,timing ,the training required under subsection 7a7 shall be provided as soon as reasonably practicable but not later than #a year after the date on which an officer1 employee1 or registered representative begins employment with or becomes affiliated or associated with the covered financial institution4 7#c7 ,bank ,secrecy ,act ,officer ,an individual who is designated as a compliance officer under an anti-money laundering program established pursuant to section #ecah7;h7 of title #ca1 ,united ,states ,code1 shall be deemed to have received the training described under this subsection4 #d4 ,relationship to ,state law ,nothing in this ,act shall be construed to preempt or limit any provision of ,state law1 except only to the extent that section #b provides a greater level of protection against liability to an individual described in section #b7;b77#a7 or to a covered financial institution described in section #b7;b77#b7 than is provided under ,state law4 ,passed the ,house of ,representatives ,july #e1 #bjaf4,karen ,l4 ,haas1,clerk4