The majority of states (26) now have report and hold laws after Rhode Island adopted its report and hold law intended to prevent financial exploitation of senior and vulnerable adults. On July 15, 2019, Rhode Island enacted legislation that permits firms to place a temporary hold on disbursements when financial exploitation is suspected and requires firms to report suspected exploitation to the Department of Business Regulation - Securities Division. Separately, broker-dealers must immediately report suspected exploitation to the Department of Elderly Affairs or law enforcement under the State’s Adult Protective Services (APS) statute. The permissible hold period is shorter than the period permitted under FINRA’s Rule 2165. Rhode Island provides for a hold up to 10 business days unless extended by court order. FINRA’s rule allows up to 25 business days unless extended by court order. The new law became effective July 15th.