FLORIDA, June 30, 2020 — Today we applaud Governor Ron DeSantis for signing House Bill 813, providing protection for vulnerable investors. The Florida Securities Dealers Association [FSDA] has tirelessly worked with key lawmakers, regulators and industry stakeholders to help bring this legislation to fruition. Through the passing of this bill, Florida joins the majority of states that now provide a tool to help broker dealers and investments advisors to protect their at risk clients from being targeted and robbed of their hard earned savings and investments. Florida will become the 30th state to adopt senior investor protection either by law (29 states) or regulation (Vermont). The new law will go into effect July 1.
“This is a fantastic bill that will save the Florida investing public millions of dollars, allowing the private sector to better partner with regulators and law enforcement to stop financial exploitation of our most vulnerable citizens,” stated FSDA’s current president, Katherine C. “Kacy” Donlon.
Dan Newman, FSDA’s Vice President and chair of the FSDA legislative committee, added “This legislation sends a clear message to everyone trying to exploit our seniors in Florida: your days are numbered.”
After several years of hard work on legislation to better protect senior and vulnerable investors,the FSDA is proud to have worked collaboratively with the Florida Office of Financial Regulation, the Elder Law Section of the Florida Bar, and other industry stakeholders to get this legislation over the finish line. We also applaud State Representative Lawrence McClure (R-Tampa), State Representative Byron Donalds (R-Naples), and State Senator Doug Broxson for their tireless efforts to champion this cause for our state’s vulnerable investor population.
With members from every area of the state and all aspects of the industry, the FSDA is continually expanding its advocacy efforts, providing education opportunities for its members and Florida's investing public while improving the business climate for the industry in Florida.
Since 1933, FSDA has been the voice of the securities industry in Florida.
If you would like more information about the Florida Securities Dealers Association [FSDA], please contact Marie Silvani at [561-371-4517] or visit FSDA.org
