NY A08908

Creates a new compliance officer or compliance practitioner license issued by the superintendent, required for individuals performing compliance tasks including drafting policies, designing controls, and monitoring non-compliance in financial services.

Requires applicants to be at least 21 years old, pass a criminal background check, and have no felony or fraudulent conduct convictions; applicants must complete 35 hours of formal training and either have 2 years' financial industry experience with a bachelor's degree or 5 years' practical experience.

Mandates a written examination for initial applicants, except those with 5+ years' prior compliance experience applying within 2 years of license termination, military veterans, government employees, or those with equivalent licenses from other jurisdictions with reciprocity.

Establishes a two-year license term expiring December 31 of even-numbered years; requires renewal applicants to complete 36 credit hours of continuing education during each biennial period; sets license fees at $75 per year and examination fees at actual administrative costs.

Allows the superintendent to issue temporary permits valid up to 120 days for qualified applicants with 5+ years of compliance experience; permits summary suspension or revocation of temporary permits with 10 days' notice.