New York Superintendent of Financial Services
|New York Superintendent of Financial Services|
|Office website:||Official Link|
|Authority:||Financial Services Law (2011)|
|Selection Method:||Appointed by Governor|
|Assumed office:||May 24, 2011|
|Other New York Executive Offices|
|Governor • Lieutenant Governor • Secretary of State • Attorney General • Comptroller • Commissioner of Education • Agriculture Commissioner • Financial Services Superintendent • Environmental Conservation Commissioner•Labor Commissioner • Public Service Commission • Insurance|
The Superintendent oversees the Department of Financial Services, which was created in 2011 by consolidating the Banking and Insurance departments.
The current officeholder is Benjamin Lawsky. He has served in this position since October 3, 2011.
The office of the Superintendent of Financial Services was created by the Financial Services Law, which was introduced as part of Governor Andrew Cuomo’s 2011 budget. The office was officially established on October 3, 2011.
The superintendent is appointed by the governor and confirmed by the Senate.
The superintendent is charged with the following tasks:
- Foster the growth of the financial industry in New York and spur state economic development through judicious regulation and vigilant supervision
- Ensure the continued solvency, safety, soundness and prudent conduct of the providers of financial products and services
- Ensure fair, timely and equitable fulfillment of the financial obligations of such providers
- Protect users of financial products and services from financially impaired or insolvent providers of such services
- Encourage high standards of honesty, transparency, fair business practices and public responsibility
- Eliminate financial fraud, other criminal abuse and unethical conduct in the industry
- Educate and protect users of financial products and services and ensure that users are provided with timely and understandable information to make responsible decisions about financial products and services.
- See also: Compensation of state executive officers
New York State Department of Financial Services
One State Street
New York, NY 10004-1511
Phone: (212) 709-3500
- ↑ New York Department of Financial Services, "About Us," accessed October 30, 2011
- ↑ Office of the New York Governor, "Governor Cuomo Announces Unanimous Senate Confirmation of Benjamin Lawsky as Superintendent of The Department of Financial Services," May 24, 2011
- ↑ New York Department of Financial Services, "Mission," accessed December 22, 2012