News & Analysis as of

NYDFS Financial Institutions Board of Directors

StoneTurn

Operationalizing the N.Y. Department of Financial Services Character and Fitness Guidance

StoneTurn on

At the start of 2024, the New York State Department of Financial Services (“DFS”) issued an industry letter: Guidance on Assessment of the Character and Fitness of Directors, Senior Officers, and Managers (the “Guidance”),...more

Mayer Brown

Better Know Your CEO: New York Issues Final Guidance on Character and Fitness

Mayer Brown on

The New York Department of Financial Services (NYDFS) issued final supervisory guidance on January 22, 2024, to New York banking institutions and financial services companies licensed by the NYDFS. The guidance sets forth the...more

WilmerHale

New York Department of Financial Services Proposes Heightened Standards for Character and Fitness of Executives

WilmerHale on

On May 9, New York State Department of Financial Services (DFS or the Department) Superintendent Adrienne A. Harris issued proposed guidance to clarify the DFS’s updated expectations regarding the review and assessment of the...more

Mintz - Privacy & Cybersecurity Viewpoints

New York Demands Coronavirus Emergency Plan from Crypto Firms by April 9th and Adds Requirements for Boards and CEOs

The New York Department of Financial Services (NYDFS) issued guidance to financial institutions engaged in virtual currency business activities, mandating that an emergency preparedness plan from each firm be submitted to...more

Eversheds Sutherland (US) LLP

Legal Alert: New York’s New BSA/AML Rule Imposes Monitoring, Filtering and Certification Requirements

On June 30, 2016, the New York Department of Financial Services (DFS) adopted a new anti-terrorism and anti-money laundering (AML) regulation (Final Rule) that builds on federal anti-money laundering requirements to address...more

Latham & Watkins LLP

New York State Department of Financial Services Releases Final Regulations to Enhance Anti-Money Laundering and Sanctions...

Latham & Watkins LLP on

Final regulations impose certification requirements on a financial institution’s Board of Directors or Senior Officer(s) relating to BSA/AML and OFAC compliance. The New York State Register today published the final...more

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