The New York State Department of Financial Services provided temporary relief to consumers and businesses from making premium payments to life insurance companies, property and casualty insurers, and premium finance agencies.
The New York State Department of Financial Services issued an emergency regulation on New York Governor Andrew Cuomo’s Executive Order directing NYDFS-regulated institutions to provide loan forbearance.
The Investment Adviser Association and North American Administrators Securities Association offered opposing recommendations to the SEC on its proposal to amend the definitions of "accredited investor" and "qualified institutional buyer."
Trade associations and state regulators offered several recommendations on the SEC proposal to "tighten" the requirements that broker-dealers must meet before being permitted to post public quotations on OTC securities.
The New York State Department of Financial Services extended the deadline for regulated entities to submit their plans to address the end of LIBOR and the associated risks. The deadline was extended to March 23, 2020.
New York State Department of Financial Services Superintendent Linda A. Lacewell proposed regulation designed to streamline the disclosure processes of confidential supervisory information to legal counsel and independent auditors.
The New York State Department of Financial Services joined the Network for Greening the Financial System, an international coalition of bank supervisors created to "mobiliz[e] the financial industry to address climate change."
The North American Securities Administrators Association reported that through its Operation Cryptosweep Initiative, regulators opened over one hundred new investigations since the beginning of this year.