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Requirements for Changes in Certain Individuals

Pursuant to the following sections of the New York Banking Law (BL) and Superintendent’s Regulations (SR), licensees of the Department of Financial Services (DFS) are required to notify the Superintendent of changes in certain individuals, within the stipulated timeframe:

Included Individuals:

Documentary requirements for Each Included Individual Being Added:

  1. Notification on the licensee's letterhead signed by an authorized officer (control party only for budget planners), containing the following:

    1. Name and title of the individual being added
    2. Effective date of the addition
    3. Name and title of the person being replaced, and his/her new title/position, if any
  2. Resolution of the governing board approving the addition
  3. Personal Questionnaire
  4. Fingerprints requirements
  5. Litigation Affidavit
  6. Authority to Release Information
  7. Resume

Documentary requirements for Each Included Individual Being Removed:

Notification on the licensee's letterhead signed by an authorized officer (control party only for budget planners) containing the following:

  1. Name and title of the individual being removed
  2. Reason of the removal
  3. Effective date of the removal
  4. New title/position, if any

Mail all required documents to:
NYS Department of Financial Services
Licensed Financial Services
One State Street
New York, NY 10004-1511

Updated 02/10/2017

 

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