Citing Private Equity Concerns, New York Department of Financial Services Proposes Increased Scrutiny and Disclosure for Acquisitions of New York Domestic and Commercially Domiciled Insurers

4 June 2014
FC&S Legal
On May 14, 2014, the New York State Department of Financial Services (“NYDFS”) proposed an amendment to the regulation that sets forth the filing and other regulatory requirements for the acquisition and retention of control of New York domestic and commercially domiciled insurers that includes specific requirements directed at acquisitions by private equity firms and other similar investors.