New York DFS Announces New Research and Innovation Division


    On July 23, the Financial Services Superintendent Linda A. Lacewell announced the establishment of the New York State Department of Financial Services (“NYDFS”)  Research and Innovation Division (the “Division”).  Superintendent Lacewell stated, “this new division…position[s] DFS as the regulator of the future, allowing the Department to better protect consumers, develop best practices, and analyze market data to strengthen New York’s standing as the center of financial innovation.”

    The newly established Division will be tasked with supporting internal transformation and market innovation, while ensuring that the NYDFS keeps pace with the rapid transformation being experienced across the board in the financial services industry.  The Division will be responsible for supervising virtual currencies, assessing new efforts to use technology to address financial exclusion, and identifying and protecting consumer data rights.

    Matthew Homer will lead the Division as Executive Deputy Superintendent; Matthew Siegel and Olivia Bumgardner will be Deputy Superintendents of the Division; and Andrew Lucas will serve as Counsel to the Division.

    A copy of the press release may be found here.

    The post New York DFS Announces New Research and Innovation Division appeared first on Insurance & Reinsurance.

    Explore Additional Topics


    Please understand that your communications with Locke Lord LLP through this website do not constitute or create an attorney-client relationship with Locke Lord LLP. Any information you send to Locke Lord LLP through this website is on a non-confidential and non-privileged basis. Therefore, do not send or include any information in your email that you consider to be confidential or privileged.