This bill creates a new task force within the Securities and Exchange Commission (the agency that oversees stock markets and investments) specifically focused on protecting people over 65. The task force will study what's happening in the investment industry that affects seniors, identify major problems they're facing, and recommend new rules or laws to help protect them. At the same time, another government agency called the Government Accountability Office will investigate financial exploitation of seniors—basically looking into how older people are being scammed or taken advantage of with their money. Together, these efforts aim to shine a light on senior investor issues and figure out what changes are needed to keep older Americans safer when it comes to their investments and finances.

Senior Security Act of 2023

Sinema, Kyrsten

National Senior Investor Initiative Act of 2023 or the Senior Security Act of 2023 This bill establishes the Senior Investor Taskforce within the Securities and Exchange Commission. The taskforce must report on topics relating to investors over the age of 65, including industry trends and serious issues impacting such investors, and make recommendations for legislative or regulatory actions to address problems encountered by senior investors. The Government Accountability Office must report on the financial exploitation of senior citizens.