NY A02498

Requires financial planners who derive any income or business from elderly New York residents to obtain certification from the Certified Financial Planner Board of Standards, Incorporated or a nationally recognized accreditation agency acceptable to the Superintendent of Financial Services

Defines "financial planner" to include any individual, business, or entity selling or promoting investment planning, income tax planning, education planning, retirement planning, estate planning, risk management, and management of financial resources including 401(k)s, IRAs, Roth IRAs, SEP-IRAs, and IRA rollovers

Defines "elderly person" using the same meaning as Section 214 of Elder Law

Amends both Elder Law and Banking Law to establish certification requirements and enforcement mechanisms

Takes effect 365 days after becoming law, with the Superintendent of Financial Services required to promulgate implementing rules and regulations immediately