42:
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He is noted for targeting individuals within the financial sector who commit wrongdoing, and not merely handing out fines to the companies they work for, an approach he explains as follows: "Corporations are a legal fiction. You have to deter bad individual conduct within corporations. People who did
306:
On June 18, 2013, the
Department announced that Deloitte Financial Advisory Services LLP (“Deloitte FAS”) was fined $ 10 million and banned from advising banks in New York for one year after accusing the firm of watering down a report about money-laundering controls at Standard Chartered.
302:
On August 14, 2012, Standard
Chartered Bank agreed to pay a fine of $ 340 million (ÂŁ220 million) to the New York State Department of Financial Services, conceding that $ 14 million in financial transactions involving Iranian parties were in violation of U.S. banking laws.
341:
reviewed his "polarizing" tenure positively, saying that the state's banks would not miss the
Columbia graduate, he having "threatened to pull their licenses, fined them hundreds of millions of dollars and forced dozens of their employees to resign."
313:
In a letter to other states' insurance regulators, Lawsky said that recent tests of insurance industry accounting practices had revealed "gamesmanship and abuses" regarding assessment of insurers' liquid reserves and leveraging practices.
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While serving as
Superintendent, and following public hearings on the topic, Lawsky is credited with introducing some of the first regulations in the United States specifically affecting
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On
September 11, 2013, Lawsky's office announced that New York State would opt out of an agreement on new capital reserve standards for the life insurance industry.
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Lawsky announced in May 2015 that he would be stepping down the following month to launch his own legal and consulting firm, later named the
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From May 24, 2011 until
October 3, 2011, Lawsky was appointed, and served as, Acting Superintendent of Banks for the former
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and accused the bank of conducting secret money laundering transactions with Iran, triggering a 23.5% drop in share price.
555:
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543:"Standard Chartered Shares Drop 23.5 Percent On Iran Money-Laundering Allegations", retrieved August 8, 2012, at
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242:. Subsequently, Lawsky had a senior role in the New York Attorney General's Office and also served as Governor
208:
345:
Lawsky garnered multiple awards and distinctions during his four years as bank regulator, including as one of
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484:"Meet The Wall Street Regulator Who Pissed Off The Fed, The Treasury, And The Entire City Of London"
509:"Mission, About Us, New York State Department of Financial Services", retrieved August 8, 2012, at
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unanimously confirmed Lawsky as New York State's first
Superintendent of Financial Services.
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528:"Regulator Says British Bank Helped Iran Hide Deals", retrieved on August 8, 2012, at
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As
Superintendent of Financial Services, he was paid an annual salary of $ 127,000.
257:, he has also been an assistant U.S. Attorney in the Southern District of New York.
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On
September 17, 2024, Lawsky joined the Regulatory Advisory Board of Norm Ai.
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New York State
Department of Financial Services official website, ibid.
556:"Standard Chartered to pay $ 340m fine to New York Bank Regulator," at
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Having started his career with two federal judicial clerkships in the
238:
Up until 2001 Lawsky was the chief counsel, in Washington, to Senator
215:
with a twin sister. His mother was a computer systems analyst for the
718:
581:
New York Regulator Sees Abuse Increasing Under New Insurance Rules,
664:"Benjamin Lawsky, Sheriff of Wall Street, Is Taking Off His Badge"
599:"Lawsky to step up assault on Wall Street's corporate wrongdoing"
442:
New York State Banking Department, retrieved August 8, 2012, at
732:
332:
723:
691:"Ben Lawsky has joined the Norm Ai Regulatory Advisory Board"
641:
414:"Benjamin M. Lawsky, Superintendent of Financial Services"
662:
Silver-Greenberg, Jessica; Protessm, Ben (May 20, 2015).
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Board on Electric Generation Siting and the Environment
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2 Consultants to Banking Industry Come Under Scrutiny,
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depository institutions and cryptocurrency exchanges.
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187:(born April 14, 1970) is an American attorney and
318:the conduct are going to be held accountable."
989:State cabinet secretaries of New York (state)
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288:towards a new financial regulator called the
54:New York Superintendent of Financial Services
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230:. He married attorney Jessica Roth in 2002.
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624:Liz Rappaport, Wall Street's New Watcher,
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29:
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503:
456:"WEDDINGS; Jessica Roth, Benjamin Lawsky"
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383:"Weddings; Jessica Roth, Benjamin Lawsky"
363:'50 Most Influential in Global Finance'.
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943:New York State Law Revision Commission
938:New York State Financial Control Board
290:Department of Financial Services (DFS)
999:People associated with cryptocurrency
790:Corrections and Community Supervision
7:
933:Legislative Bill Drafting Commission
276:, in which position he led Governor
261:Superintendent of Financial Services
199:Lawsky was born near a Navy base in
585:; retrieved September 13, 2013, at
570:; retrieved September 13, 2013, at
286:New York State Insurance Department
994:Columbia College (New York) alumni
25:
928:Joint Commission on Public Ethics
282:New York State Banking Department
280:'s initiative to consolidate the
274:New York State Banking Department
66:May 24, 2011 – June 2015
948:Public Authorities Control Board
496:from the original on 2022-08-01.
354:s 'Top 100 Global Thinkers' and
628:, retrieved August 8, 2012, at
597:Scannell, Kara (9 March 2014).
923:Commission on Judicial Conduct
444:NYS Banking Department website
219:and his father a radiologist.
1:
820:Children and Family Services
251:Eastern District of New York
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979:Columbia Law School alumni
805:Environmental Conservation
267:New York State Legislature
760:New York state government
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545:/Huffington Post website
222:Lawsky is a graduate of
195:Early life and education
984:Lawyers from Pittsburgh
775:Agriculture and Markets
626:The Wall Street Journal
297:Standard Chartered Bank
265:On May 24, 2011, The
185:Benjamin Meier Lawsky
867:Taxation and Finance
795:Economic Development
693:. September 17, 2024
86:Position established
881:Defunct departments
246:'s Chief of Staff.
224:Columbia Law School
162:Columbia Law School
827:Financial Services
669:The New York Times
642:"The Lawsky Group"
516:2012-08-19 at the
461:The New York Times
388:The New York Times
339:The New York Times
240:Charles E. Schumer
18:Benjamin M. Lawsky
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815:Family Assistance
780:Audit and Control
357:Bloomberg Markets
207:, but grew up in
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96:Anthony Albanese
16:(Redirected from
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911:Non-departmental
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969:1970 births
768:Departments
762:departments
715:Appearances
255:2nd Circuit
217:Mellon Bank
82:Preceded by
963:Categories
647:October 2,
468:31 October
418:dfs.ny.gov
370:References
209:Pittsburgh
205:California
144:Democratic
133:California
119:1970-04-14
893:Insurance
810:Executive
800:Education
610:March 10,
201:San Diego
158:Education
129:San Diego
62:In office
514:Archived
494:Archived
253:and the
98:(Acting)
71:Governor
888:Banking
675:June 3,
533:website
326:bitcoin
832:Health
719:C-SPAN
604:ft.com
428:3 June
395:3 June
234:Career
150:Spouse
135:, U.S.
862:State
837:Labor
361:'
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699:2024
677:2015
649:2018
612:2014
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430:2015
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284:and
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