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Can you summarize AZRS 46-471?
Definitions
Short Summary
This legal document pertains to Adult Protective Services in Arizona. It defines various terms related to the protection of eligible adults, including broker-dealers, eligible adults, financial exploitation, investment advisers, investment adviser representatives, and qualified individuals. An eligible adult is defined as a person who is either sixty-five years of age or older or a vulnerable adult. Financial exploitation refers to the wrongful or unauthorized taking, withholding, appropriating, or use of money, assets, or property of an eligible adult, as well as any act or omission to obtain control over the eligible adult’s money, assets, or property through deception, intimidation, or undue influence. The document also defines investment adviser and investment adviser representative as licensed or exempt individuals. Additionally, it introduces the term qualified individual, which refers to a broker-dealer, investment adviser, or person serving in a supervisory, compliance, legal, or senior investor protection capacity. The document does not specify penalties for financial exploitation of eligible adults.
Whom does it apply to?
Broker-dealers, eligible adults, investment advisers, investment adviser representatives, and qualified individuals
What does it govern?
Adult Protective Services
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Penalties for financial exploitation of eligible adults are not specified in the provided document.
Jurisdiction
Arizona