Senior Security Act of 2026

New SEC taskforce for seniors

If enacted, the SEC would create a Senior Investor Taskforce to protect investors age 65 and older. The SEC Chairman would appoint a Director who would report directly to the Chairman. The Chairman would staff the taskforce using existing SEC employees and resources. Staff would include people from the Division of Enforcement, the Office of Compliance Inspections and Examinations, and the Office of Investor Education and Assistance. Taskforce members would not receive extra pay beyond their federal salaries. The Chairman would be required to minimize duplication of efforts across SEC offices. The taskforce would identify problems senior investors face, including financial exploitation and cognitive decline. It would recommend SEC, self-regulatory, and legislative changes and coordinate with SROs, the Elder Justice Coordinating Council, state regulators, and other federal agencies. The taskforce would issue a report every two years. The first report would not be issued until after the GAO study required elsewhere in the bill is submitted and reviewed by the taskforce. The taskforce would end ten years after the law's enactment. The SEC would use existing funds to run the taskforce.