Benjamin M. Lawsky, Superintendent of the New York Department of Financial Services (“NYDFS”), the New York agency that regulates insurance companies and banks, is resigning in late June after four years as the agency's first superintendent.
Superintendent Lawsky was unanimously confirmed to his position by the New York State Senate in May 2011. The NYDFS was created after the Financial Crisis by combining the two existing agencies that regulated the insurance and banking industries.
Reportedly, he will be opening his own law and consulting firm focusing on digital security.
Superintendent Lawsky said, “I am deeply proud of the work our team has done building this new agency and helping strengthen oversight of the financial markets. We have assembled a great team at NYDFS and I have full confidence that the critical work of this agency will continue seamlessly moving forward. I also want to thank Governor [Andrew M.] Cuomo for the trust he showed in appointing me to this position and for providing us with the opportunity to serve the people of New York. On a personal level, I am deeply grateful to the governor, who has been an incredible mentor and amazing friend to me over the past eight years.”
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