New York Expands Program to Help Startups Navigate Regulatory Environment

The service called FastForward went live today and expands upon a pilot program that the New York State Department of Financial Services (NYDFS) offered for insurtech startups; startups will be able to submit questions and work directly with regulators on compliance issues; it is aimed to be less of a regulatory sandbox and more of a consultation service; one of the potential downsides for startups are the disclosure requirements which can be made available under New York’s freedom of information laws; the NYDFS noted that they were especially interested in companies which are helping Main Street small businesses and those helping consumers “build their financial futures and resilience” during these challenging times. American Banker