N.Y. Financial Services Law § 404: Powers of the financial frauds and consumer protection unit

§ 404. Powers of the financial frauds and consumer protection unit.

(a) The superintendent has authority under this article, the banking

law, the insurance law and other applicable laws to investigate

activities that may constitute violations subject to section four

hundred eight or four hundred eight-a of this article or violations of

the insurance law or banking law and to develop evidence thereon.

(b) If the financial frauds and consumer protection unit has a

reasonable suspicion that a person or entity has engaged, or is

engaging, in fraud or misconduct with respect to the banking law, the

insurance law, the provisions of this chapter or other laws pursuant to

which the superintendent has investigatory or enforcement powers, then

the superintendent, in the enforcement of relevant statutes and

regulations, may undertake an investigation thereon, provided, however,

that the scope of authority set forth in this section shall not be

deemed to otherwise limit or impair the ability of the superintendent to

assist any other entity in an investigation involving a violation of

law, and provided further that the responsibility and power to

investigate any specific frauds or misconduct enumerated in this

chapter, the banking law, the insurance law and other laws pursuant to

which the superintendent has investigatory or enforcement powers shall

be included under the jurisdiction of the financial frauds and consumer

protection unit.

(c) Nothing in this chapter shall be construed to grant or authorize

the financial frauds and consumer protection unit the specific powers or

responsibilities of the consumer protection division of the department

of state.