Page:United States Statutes at Large Volume 124.djvu/1969

 124 STAT. 1943 PUBLIC LAW 111–203—JULY 21, 2010 (7) the term ‘‘senior’’ means any individual who has attained the age of 62 years or older; and (8) the term ‘‘State’’ has the same meaning as in section 3 of the Securities Exchange Act of 1934 (15 U.S.C. 78c(a)). (b) GRANTS TO STATES FOR ENHANCED PROTECTION OF SENIORS FROM BEING MISLED BY FALSE DESIGNATIONS.—The Office shall establish a program under which the Office may make grants to States or eligible entities— (1) to hire staff to identify, investigate, and prosecute (through civil, administrative, or criminal enforcement actions) cases involving misleading or fraudulent marketing; (2) to fund technology, equipment, and training for regu- lators, prosecutors, and law enforcement officers, in order to identify salespersons and advisers who target seniors through the use of misleading designations; (3) to fund technology, equipment, and training for prosecu- tors to increase the successful prosecution of salespersons and advisers who target seniors with the use of misleading designa- tions; (4) to provide educational materials and training to regu- lators on the appropriateness of the use of designations by salespersons and advisers in connection with the sale and mar- keting of financial products; (5) to provide educational materials and training to seniors to increase awareness and understanding of misleading or fraudulent marketing; (6) to develop comprehensive plans to combat misleading or fraudulent marketing of financial products to seniors; and (7) to enhance provisions of State law to provide protection for seniors against misleading or fraudulent marketing. (c) APPLICATIONS.—A State or eligible entity desiring a grant under this section shall submit an application to the Office, in such form and in such a manner as the Office may determine, that includes— (1) a proposal for activities to protect seniors from mis- leading or fraudulent marketing that are proposed to be funded using a grant under this section, including— (A) an identification of the scope of the problem of misleading or fraudulent marketing in the State; (B) a description of how the proposed activities would— (i) protect seniors from misleading or fraudulent marketing in the sale of financial products, including by proactively identifying victims of misleading and fraudulent marketing who are seniors; (ii) assist in the investigation and prosecution of those using misleading or fraudulent marketing; and (iii) discourage and reduce cases of misleading or fraudulent marketing; and (C) a description of how the proposed activities would be coordinated with other State efforts; and (2) any other information, as the Office determines is appro- priate. (d) PERFORMANCE OBJECTIVES AND REPORTING REQUIRE- MENTS.—The Office may establish such performance objectives and reporting requirements for States and eligible entities receiving a grant under this section as the Office determines are necessary