By Adrianne Appel2023-05-10T17:45:00
Banks operating in New York would have to step up their vetting of executives and senior officers, including chief compliance officers, under new guidance proposed by the New York State Department of Financial Services (NYDFS).
The NYDFS proposed banks chartered or licensed in New York provide more information to the department regarding the character and fitness of directors and senior officers upon onboarding and regularly after, the department said Tuesday in a press release.
The proposed requirements are necessary because while senior officers are generally investigated during onboarding, certain standards might be outdated and include only a criminal background check and not a check for conflicts of interest, the NYDFS said.
2024-01-22T20:18:00Z By Jeff Dale
The New York State Department of Financial Services released final guidance on how banks and non-depository financial institutions should vet executives, including chief compliance officers, before and during their employment.
2023-05-08T20:05:00Z By Adrianne Appel
New York would be the first state in the nation to comprehensively regulate cryptocurrency under a sweeping bill introduced by Attorney General Letitia James.
2023-04-28T21:04:00Z By Aaron Nicodemus
The Federal Reserve Board will likely recommend strengthening regulatory and supervisory procedures for mid-sized regional banks in the aftermath of the failure of Silicon Valley Bank.
2025-08-28T20:40:00Z By Aaron Nicodemus
The order barring three Mexican financial institutions from doing business with U.S. financial institutions has been delayed until October.
2025-08-27T19:46:00Z By Aly McDevitt
The SEC has named Margaret “Meg” Ryan, a senior military judge and Harvard Law lecturer, as its next Enforcement Division Director—an unconventional pick that could signal changes in enforcement strategy.
2025-08-22T19:05:00Z By Adrianne Appel
Businesses operating in California will need to meet new, first-in-the-nation privacy requirements for cybersecurity, risk assessments, and automated decision-making technology, under a large expansion of rules by the state.
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