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Financial Services Law Insights and Observations

New York regulator permits video hearings

State Issues Covid-19 New York NYDFS Hearing

State Issues

October 9, the New York State Department of Financial Services amended its rules governing adjudication proceedings to permit hearings to be held by videoconference. Whether a hearing is conducted by videoconference is at the discretion of the official who issued the notice for the hearing, although the respondent or applicant may object. When a hearing is conducted by videoconference, none of the parties nor the hearing officer need by physically present at the same location. The amendments, which were adopted on an emergency basis, will remain effective for 90 days from the date of filing. The regulator intends to submit a similar notice of proposed rulemaking in the future.