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 under paragraph (2) may elect to comply with the requirements under paragraph (2) and subsection (i) by notifying the Commission of such 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 the 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 (a direct-at-fund account ), the company and transfer agent shall— (A) request from such customer the name and contact information of at least one individual who— (i) is at the time of such request an adult; and (ii) may be contacted with respect to such account; (B) document and retain the information received pursuant to subparagraph (A); and (C) disclose to such customer in writing (including through electronic delivery) that such company or transfer agent may contact an individual specified pursuant to subparagraph (A) with respect to the account of such customer to— (i) address possible financial exploitation of such customer; (ii) confirm the contact information or health status of the customer