1. Short title This Act may be cited as the Financial Exploitation Prevention Act of 2023 . 2. Redemption of certain securities postponed (a) In general Section 22 of the Investment Company Act of 1940 ( 15 U.S.C. 80a–22 ) is amended by adding at the end the following: (h) Requirements with respect to non-Institutional direct at-Fund accounts (1) Election (A) In general A registered open-end investment company and a transfer agent described in paragraph (2) may elect to comply with the requirements under paragraph (2) and subsection (i) by notifying the Commission of that election. (B) Effect of election Paragraph (2) and subsection (i) shall only apply to a registered open-end investment company and a transfer agent that have made an election under subparagraph (A). (2) Requirements In the case of a customer who is a holder of a non-institutional account held directly with a registered open-end investment company and serviced by a transfer agent (commonly known as a direct-at-fund account ), the company and transfer agent shall— (A) request from that customer the name and contact information of at least 1 individual who— (i) is, at the time of that request, an adult; and (ii) may be contacted with respect to that account; (B) document and retain the information received under subparagraph (A); and (C) disclose to that customer in writing (including through electronic delivery) that such company or transfer agent may contact an individual specified under subparagraph (A) with respect to the account of that customer to— (i) address possible financial exploitation of that customer; (ii) confirm the contact information or health status of that customer