Real Estate Commissioner: Elder Financial Abuse Advisory Committee.

The Real Estate Law provides for the regulation and licensure of real estate brokers and real estate salespersons by the Department of Real Estate, which is overseen by the Real Estate Commissioner, the chief officer of the Department of Real Estate. Under existing law, protection of the public is the highest priority for the Department of Real Estate in exercising its licensing, regulatory, and disciplinary functions. This bill would require the department to establish, by January 1, 2016, an Elder Financial Abuse Advisory Committee, as prescribed, to provide to the commissioner, beginning January 1, 2017, and annually thereafter, reports analyzing the department's financial policies relating to real estate and identifying those policies that negatively impact elderly residents.