Bill
Bill > S06639
NY S06639
NY S06639Relates to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service.
summary
Introduced
05/03/2023
05/03/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the financial services law, in relation to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service
AI Summary
This bill amends the Financial Services Law to remove the requirement that fraud or misrepresentation of a material fact with respect to a financial product or service must be "intentional" in order to be subject to civil penalties. The bill also clarifies that these penalties apply to any fraud or misrepresentation, regardless of intent, involving any person offering or providing financial products or services.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
REFERRED TO BANKS (on 01/03/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nysenate.gov/legislation/bills/2023/S6639 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S06639&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S06639 |
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