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NYDFS 2014 Annual Report

To view a full PDF copy of the 2014 Annual Report, please visit, link. The Executive Summary of the report is below. A chart of major NYDFS enforcement actions contained in the report can be found, here.

EXECUTIVE SUMMARY

Four years ago, in the wake of a devastating financial crisis, Governor Cuomo proposed creating the New York State Department of Financial Services (NYDFS) and appointed Benjamin M. Lawsky as the agency’s first superintendent. NYDFS supervises approximately 3,800 financial firms with assets totaling more than $7 trillion, including most of the large foreign banks operating in New York; the major U.S. and foreign insurance companies operating in New York; and other non-bank financial companies. In the four years since its creation, by employing a number of innovative enforcement strategies, NYDFS has sought to strengthen efforts to (1) police Wall Street, (2) protect consumers, and (3) regulate financial markets.

INNOVATIVE APPROACH TO WALL STREET ENFORCEMENT FOCUSED ON DETERRENCE

STRENGTHENING CONSUMER PROTECTION

ADDRESSING NEW FINANCIAL PRODUCTS AND RISKS

Updated 05/15/2015

 

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