1. Each broker-dealer and investment adviser shall designate a person or persons to whom a sales representative, representative of the investment adviser or officer or employee of the broker-dealer or investment adviser must report known or suspected exploitation of an older person or vulnerable person.
2. If a sales representative, representative of an investment adviser or officer or employee of the broker-dealer or investment adviser reports known or suspected exploitation of an older person or vulnerable person to a designated reporter and, based on such a report or based on his or her own observations or knowledge, the designated reporter knows or has reasonable cause to believe that an older person or vulnerable person has been exploited, the designated reporter shall:
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1. Each broker-dealer and investment adviser shall designate a person or persons to whom a sales representative, representative of the investment adviser or officer or employee of the broker-dealer or investment adviser must report known or suspected exploitation of an older person or vulnerable person.
2. If a sales representative, representative of an investment adviser or officer or employee of the broker-dealer or investment adviser reports known or suspected exploitation of an older person or vulnerable person to a designated reporter and, based on such a report or based on his or her own observations or knowledge, the designated reporter knows or has reasonable cause to believe that an older person or vulnerable person has been exploited, the designated reporter shall:
(a) Except as otherwise provided in subsection 3, report the known or suspected exploitation of the older person or vulnerable person to:
(1) The local office of the Aging and Disability Services Division of the Department of Health and Human Services;
(2) A police department or sheriff’s office;
(3) The county’s office for protective services, if one exists in the county where the suspected exploitation occurred; or
(4) A toll-free telephone service designated by the Aging and Disability Services Division; and
(b) Make such a report as soon as reasonably practicable.
3. If the designated reporter knows or has reasonable cause to believe that the exploitation of an older person or vulnerable person involves an act or omission of the Aging and Disability Services Division, another division of the Department of Health and Human Services or a law enforcement agency, the designated reporter shall make the report to an agency other than the agency alleged to have committed the act or omission.
4. In accordance with the provisions of subsection 3 of NRS 239A.070 , in making a report pursuant to this section, a designated reporter may:
(a) Disclose any fact or information that forms the basis of the determination that the designated reporter knows or has reasonable cause to believe that an older person or vulnerable person has been exploited, including, without limitation, the identity of any person believed to be involved in the exploitation of the older person or vulnerable person; and
(b) Provide any financial records or other documentation relating to the exploitation of the older person or vulnerable person.
5. A sales representative, representative of an investment adviser or officer or employee of a broker-dealer or investment adviser and a designated reporter are entitled to the immunity from liability set forth in NRS 200.5096 for making a report pursuant to this section in good faith.