Benjamin Lawsky, New York State’s top financial regulator, announced on Wednesday that he’s planning to leave his post next month.
Lawsky, New York’s superintendent of financial services, will leave the New York State Department of Financial Services (NYDFS) in late June after spending four years as its first superintendent. The NYDFS was created from a merger of state banking and insurance regulators in 2011. The agency recently led the way in the licensing of virtual currency firms and in pushing for financial firms to beef up their cybersecurity efforts.
“I am deeply proud of the work our team has done building this new agency and helping strengthen oversight of the financial markets,” Lawsky said. “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.”
The announcement comes on the same day the NYDFS participated in a massive global settlement with several banks accused of market manipulation in the global foreign exchange market.