Establishes protections for adults sixty years of age or older, or at least eighteen with mental or physical impairments, from financial exploitation.

New York A07019 amends the general business law, banking law, and social services law to protect eligible adults from financial exploitation. It defines "eligible adult" as someone sixty years of age or older, or at least eighteen with mental or physical impairments, unable to manage their own resources or protect themselves from financial exploitation without assistance. The bill mandates that broker-dealers, investment advisers, and qualified individuals apply a transaction hold if they reasonably believe financial exploitation is occurring.

Establishes protections for adults sixty years of age or older, or at least eighteen with mental or physical impairments, from financial exploitation.

New York A07019 amends the general business law, banking law, and social services law to protect eligible adults from financial exploitation. It defines "eligible adult" as someone sixty years of age or older, or at least eighteen with mental or physical impairments, unable to manage their own resources or protect themselves from financial exploitation without assistance. The bill mandates that broker-dealers, investment advisers, and qualified individuals apply a transaction hold if they reasonably believe financial exploitation is occurring.