The New York State Department of Financial Services has launched the Transatlantic Regulatory Exchange, a secondment programme with the Bank of England intended to facilitate the exchange of staff and the sharing of regulatory resources, knowledge and approaches. The first exchange is due to begin in February, with the two authorities swapping senior staff with expertise in emerging payments and digital assets. The DFS secondment was open to internal candidates with demonstrated expertise in digital payments, distributed ledger technology, virtual currency or digital assets. Secondments will run for a minimum of six months and may be extended up to one year by mutual agreement, with secondees expected to return to their home regulator to apply their experience to work on the regulation of emerging financial services and technologies.
New York State Department of Financial Services 2025-01-13
New York State Department of Financial Services launches Transatlantic Regulatory Exchange secondment programme with the Bank of England
The New York State Department of Financial Services and the Bank of England have initiated the Transatlantic Regulatory Exchange to exchange staff and share regulatory resources. Starting in February, the program will focus on emerging payments and digital assets, with secondments lasting six months to a year. Participants will return to their home regulator to apply their experience in regulating emerging financial services and technologies.