N.Y. Financial Services Law § 402: Legislative declaration

§ 402. Legislative declaration. The legislature hereby finds and

declares that financial frauds take many forms across multiple

industries. The legislature further finds that financial fraud is

detrimental to the social and economic well-being of the citizens of

this state. In order to more thoroughly uncover, investigate and

eliminate the myriad financial frauds that may be perpetrated in, and

may involve the people of, New York state, the legislature finds that it

is appropriate that the responsibilities of the insurance frauds bureau

and the criminal investigations bureau that were administered by the

department of insurance and the department of banking, respectively,

prior to the enactment of this article, be consolidated into a new

financial frauds and consumer protection unit under the supervision of

the superintendent.