On January 22, 2024, the New York Department of Financial Services (NYDFS) unveiled final supervisory guidance directed at New York banking institutions and financial services companies under its jurisdiction. This pivotal move aims to bolster the integrity of the financial system by ensuring that those in leadership positions, including directors, senior officers, and managers, undergo thorough character and fitness assessments. The initiative reflects a growing recognition of the critical role that effective personnel vetting plays in safeguarding the financial landscape. Strengthening Financial Oversight The new guidance mandates that all banks and non-d
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