ICI Supports Bipartisan SAFER Act Aimed at Preventing State Seizure of Long-Term Investment Savings
The Investment Company Institute (ICI) has endorsed the bipartisan SAFER Act, which seeks to address state laws that allow for the seizure of long-term investment accounts through escheatment. The bill is supported by Representatives Sam Liccardo and Mike Lawler and aims to protect investors from unintended consequences such as forced liquidation and tax issues.
Topics: escheatment investor protection SAFER Act state regulations