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Assembly Bill A7814

2023-2024 Legislative Session

Relates to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service

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Archive: Last Bill Status - In Assembly Committee

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2023-A7814 (ACTIVE) - Details

See Senate Version of this Bill:
S6639
Current Committee:
Assembly Rules
Law Section:
Financial Services Law
Laws Affected:
Amd §408, Fin Serv L
Versions Introduced in 2025-2026 Legislative Session:
A3459, S3789

2023-A7814 (ACTIVE) - Summary

Relates to civil penalties for certain fraud or misrepresentation of a material fact with respect to a financial product or service.

2023-A7814 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   7814
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                               June 15, 2023
                                ___________
 
 Introduced by M. of A. LAVINE -- read once and referred to the Committee
   on Banks
 
 AN  ACT to amend the financial services law, in relation to civil penal-
   ties for certain fraud or misrepresentation of a  material  fact  with
   respect to a financial product or service

   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Subparagraph (A)  of  paragraph  1  of  subsection  (a)  of
 section 408 of the financial services law is amended to read as follows:
   (A)  any  [intentional]  fraud or [intentional] misrepresentation of a
 material fact with respect to a financial product or service or  involv-
 ing  any  person  offering to provide or providing financial products or
 services; or
   § 2. This act shall take effect immediately.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD11128-01-3

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