NY A06791

Requires financial planners who derive any income or business from elderly New York residents to become certified financial planners

Defines "financial planner" to include individuals or entities providing investment planning, retirement planning, estate planning, risk management, and management of financial resources including 401(k)s, IRAs, and IRA rollovers

Specifies certification must be fulfilled through the Certified Financial Planner Board of Standards, Incorporated or a nationally recognized accreditation agency acceptable to the superintendent of financial services

Defines "elderly person" using the same definition found in section 214 of the elder law

Takes effect 365 days after becoming law, with authorization for the superintendent to promulgate necessary rules and regulations immediately