state_legiscan_drain · IL
ELECTRONIC MONITORING
January 29, 2026
Summary
If enacted, this bill would expand mandated reporting of suspected financial exploitation of eligible adults to include investment advisers, securities dealers, and financial institution employees (branch managers, compliance staff). It would require the Department on Aging to develop joint training standards and establish a web-based reporting portal by July 1, 2028. The bill also grants immunity to securities professionals who place temporary transactional holds on accounts where financial exploitation is suspected, with detailed procedures for holds and notice.
Source: https://www.ilga.gov/Legislation/BillStatus?DocNum=3071&GAID=18&DocTypeID=SB&SessionID=114&GA=104
Common questions
- What does "ELECTRONIC MONITORING" cover?
- If enacted, this bill would expand mandated reporting of suspected financial exploitation of eligible adults to include investment advisers, securities…
- When was it published?
- It was published on January 29, 2026.