June 15 Recognized as World Elder Abuse Awareness Day
CONTACT Claire McHenry, Deputy Director – Securities Bureau
PHONE 402-471-2171
EMAIL claire.mchenry@nebraska.gov
NDBF Recognizes June 15 as World Elder Abuse Awareness Day, Urges Nebraskans to Establish a Trusted Contact
June 15, 2022 (LINCOLN, NE)— In recognition of World Elder Abuse Awareness Day (WEAAD) on June 15th, the Nebraska Department of Banking and Finance (NDBF) reminds Nebraskans and financial professionals to be on the lookout for signs of elder financial abuse. To help protect Nebraska investors, NDBF has joined the North American Securities Administrators Association (NASAA) campaign urging Nebraskans to provide their financial firms with a trusted contact.
“Investors can take steps to help safeguard their investments from potential fraud by creating an extra layer of protection with a trusted contact,” said NDBF Deputy Director Claire McHenry. “Your investment professional can help you in getting a trusted contact in place for your accounts.”
A trusted contact is an individual authorized by an investor to be contacted by their financial firm in limited circumstances. These circumstances can include concerns about activity in the investor’s account or if the firm has been unable to reach the investor after numerous attempts. A trusted contact may be a family member, attorney, accountant or another reliable third party; investors may establish more than one trusted contact and may add or change a trusted contact at any time.
Importantly, a trusted contact:
- Cannot make trades in the investor’s account.
- Cannot make decisions about the investor’s account; and
- Does not become a power of attorney, legal guardian, trustee or executor by virtue of being identified as a trusted contact.
To learn more about setting up a trusted contact, financial firms and investors are encouraged to review materials available at www.nasaa.org/trust-contact.
Before making any financial decisions, ask questions, do your homework, and visit our website at ndbf.nebraska.gov or contact NDBF at 402-471-2171 for more information.
