New York § 201 Declaration of policy

New York Statutes

§ 201 — Declaration of policy

New York § 201

Law FISFinancial Services Law

Art. 2Organization of the Department of Financial Services

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Bluebook

N.Y. Financial Services Law § 201 (2026).

Text

§ 201. Declaration of policy.

(a)It is the intent of the legislature\nthat the superintendent shall supervise the business of, and the persons\nproviding, financial products and services, including any persons\nsubject to the provisions of the insurance law and the banking law.\n (b) The superintendent shall take such actions as the superintendent\nbelieves necessary to:\n (1) foster the growth of the financial industry in New York and spur\nstate economic development through judicious regulation and vigilant\nsupervision;\n (2) ensure the continued solvency, safety, soundness and prudent\nconduct of the providers of financial products and services;\n (3) ensure fair, timely and equitable fulfillment of the financial\nobligations of such providers;\n (4) protect users of financial

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§ 201. Declaration of policy. (a) It is the intent of the legislature\nthat the superintendent shall supervise the business of, and the persons\nproviding, financial products and services, including any persons\nsubject to the provisions of the insurance law and the banking law.\n (b) The superintendent shall take such actions as the superintendent\nbelieves necessary to:\n (1) foster the growth of the financial industry in New York and spur\nstate economic development through judicious regulation and vigilant\nsupervision;\n (2) ensure the continued solvency, safety, soundness and prudent\nconduct of the providers of financial products and services;\n (3) ensure fair, timely and equitable fulfillment of the financial\nobligations of such providers;\n (4) protect users of financial products and services from financially\nimpaired or insolvent providers of such services;\n (5) encourage high standards of honesty, transparency, fair business\npractices and public responsibility;\n (6) eliminate financial fraud, other criminal abuse and unethical\nconduct in the industry; and\n (7) educate and protect users of financial products and services and\nensure that users are provided with timely and understandable\ninformation to make responsible decisions about financial products and\nservices.\n