West Virginia Code 32-6-605 – Third-Party Disclosures
Current as of: 2023 | Check for updates
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If a broker-dealer or investment adviser reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or is being attempted, the broker-dealer or investment adviser may notify any reasonably associated individuals. Disclosure may not be made to any third party that is suspected of financial exploitation or other abuse of the eligible adult.
Terms Used In West Virginia Code 32-6-605
- Broker-dealer: means any person engaged in the business of effecting transactions in securities for the account of others or for his or her own account. See West Virginia Code 32-4-401
- Eligible adult: means a person 65 years of age or older or a person subject to §. See West Virginia Code 32-6-602
- Financial exploitation: means :
(A) The wrongful or unauthorized taking, withholding, appropriation, or use of securities, money, assets, or property of an eligible adult. See West Virginia Code 32-6-602
- Investment adviser: means any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the value of securities or as to the advisability of investing in, purchasing or selling securities or who, for compensation and as a part of a regular business, issues or promulgates analyses or reports concerning securities. See West Virginia Code 32-4-401