N.Y. Banking Law § 646: Investigations, hearings and reports

§ 646. Investigations, hearings and reports. 1. The superintendent

shall have the power to make such investigations and conduct such

hearings as he shall deem necessary to determine whether any licensee or

any other person has violated any of the provisions of this article, or

whether any licensee has conducted himself in such manner as would

justify the suspension or revocation of his license.

2. In making any investigation or conducting any hearing pursuant to

the provisions of this article, the superintendent, or any person duly

designated by him, shall have the power at all times to subpoena

witnesses; to take depositions of witnesses residing without the state,

in the manner provided for in civil actions in courts of record; to pay

such witnesses the fees and mileage for their attendance provided for

witnesses in civil actions in courts of record; and to administer oaths.

He shall also have the power to compel by order or subpoena the

production of and to examine all relevant books, records, accounts and

other documents. Any person who fails to obey the command of the

subpoena without reasonable excuse, or refuses without reasonable cause

to be served or to be examined or to answer a question or to produce a

book or paper when ordered so to do, or fails to perform any act

required hereunder to be performed, shall be subject to the compulsions

in such cases made and provided by law, and if the person be licensed

hereunder, the superintendent shall have the right to suspend or revoke

the license.

3. The superintendent may require of any licensee such reports, under

oath or otherwise, concerning the licensee's business in this state, as

he may deem necessary for the enforcement of this article.

4. All reports of investigations and other reports rendered pursuant

to this section, and all correspondence and memoranda concerning or

arising out of such investigations or reports, including any duly

authenticated copy or copies thereof in the possession of any licensee

or the department of financial services, shall be confidential

communications, shall not be subject to subpoena and shall not be made

public unless, in the judgment of the superintendent, the ends of

justice and the public advantage will be subserved by the publication

thereof, in which event the superintendent may publish or authorize the

publication of a copy of any such report or other material referred to

in this subdivision, or any part thereof, in such manner as may be

deemed proper. For purposes of this subdivision, "reports of

investigations, and other reports rendered pursuant to this section and

all correspondence and memoranda concerning or arising out of such

investigations or reports" shall have the same meaning as such terms are

defined pursuant to subdivision ten of section thirty-six of this

chapter.