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Financial Services Law Insights and Observations

New Jersey Department of Banking and Insurance extends no-action position regarding temporary work from home

State Issues Covid-19 New Jersey Licensing Banking Insurance

State Issues

On May 28, the New Jersey Department of Banking and Insurance issued Bulletin No. 20-26 to certain licensees regarding temporarily working from home due to Covid-19. The bulletin extends the department’s no-action position regarding licensure for certain branch office locations due to individuals temporarily working from home first announced in Bulletin No 20-06 (covered here).  The no-action position is only effective with a submission that includes specified materials and may be subject to pre-conditions and operating, reporting, and other requirements. Licensees who have already submitted materials to the department in response to Bulletin No. 20-06 are not required to resubmit those materials.

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