NY regulator extends comment period for anti-money laundering plan

New York State's financial regulator has extended by nearly two months the comment period for a proposal requiring banks to strengthen measures to prevent money laundering and the financing of terrorist groups.

The New York Department of Financial Services (NYDFS) extended the deadline to March 31 from Feb. 1 on Wednesday to get more public input, a spokesman said on Thursday.


Under the draft regulations, unveiled by New York Governor Andrew Cuomo in December, compliance officers could face criminal penalties for filing incorrect or false certifications about the effectiveness of their firms' anti-money laundering systems.

The NYDFS, created in 2011 by consolidating the state's banking and insurance agencies, has operated without a permanent superintendent for more than eight months.

Cuomo last week nominated Maria Vullo, a New York lawyer and donor to the Democratic governor's campaigns, to lead the NYDFS. Her appointment is subject to State Senate approval.



(REUTERS Reporting by Suzanne Barlyn; Editing by Richard Chang)