New York DFS Provides New Guidance on Disclosure Law, 6 Month Delay

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One Commerce Plaza, Albany, NYNew York’s Department of Financial Services has provided updated guidance on the impending commercial finance disclosure law scheduled to go into effect on January 1st.

The main news? A six month delay.

“Financiers and brokers shall comply with disclosure requirements six months after the effective date,” the proposals state.

The comment period has also been corrected/extended to December 19, 2021. Comments are to be directed to George Bogdan at DFS.

The regulation’s draft has been amended as well and can be VIEWED HERE.

Last modified: October 20, 2021
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