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Who cares
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Sponsors
4 Multi-sponsors
History
- Referred to banks
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:A10983
Title of bill
An act to amend the elder law and banking law, in relation to requiring financial planners working with the elderly to be certified financial planners
Purpose or general idea of bill
Requires financial planners working with the elderly to be certified.
Summary of specific provisions
Elderly person shall have the same meaning ascribed in Section 214 of this title.
Financial Planner" shall mean any individual, business or entity that sell, promotes or holds themselves out to sell or promote or provide investment planning, income tax planning, education planning, retirement planning, estate planning, risk management, and any other area with respect to e management of financial resources; including but not limited to 401(k)s, IRA Roth IRS, SEP-IRA's and IRA rollovers.
Justification
This means financial planner shall be certified. Certification by fulfilling all educational, ethical and certification exams required and set forth by the Certified Financial Planner Board of Standard, Incorporated or recognized Nationally accredited agency acceptable to the Superintendent of Banks.
Prior legislative history
New FISCAL IMPLICATIONS: Unknown.
Effective date
This shall take effect 365 day after it shall have become law provided, that the superintendent of banks shall promulgate any rules and regulations necessary for the implementation of this act.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.