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Financial Services Law Insights and Observations

New York Department of Financial Services announces temporary guidelines on annual meeting requirements

State Issues Covid-19 New York NYDFS

State Issues

On April 16, New York Department of Financial Services announced temporary regulatory relief for state-chartered financial services entities regarding annual meeting requirements. The announcement specifically allowed for annual meetings to be conducted virtually via teleconference, and extended the deadline to hold stockholder meetings, allowing affected entities to fulfill the requirement within the first seven months, as opposed to the first four months, of its fiscal year.