Financial advisers soon will have more authority to act if they suspect an older Missouri resident or person with a disability is the target of financial fraud.
Gov. Jay Nixon on Friday signed a bill touted by supporters as a way to protect seniors from exploitation.
Once the bill takes effect, financial professionals can refuse to process transactions if fraud is suspected.
The measure applies to advisers of those over 60 or those with disabilities.
Financial professionals must inform state agencies, as well as a relative, attorney or the authorities of suspicious activity.
Nixon says the legislation is another tool to fight financial exploitation.
