NCF Alum Linda Lacewell Could Oversee New York State's Sales Standards

Lacewell is on track to succeed Maria Vullo as the Empire State’s new financial services superintendent.

After weeks of speculation, New York state Gov. Andrew Cuomo has formally nominated Linda Lacewell to be the next superintendent of the state Department of Financial Services.

The department handles regulation of insurance, banking, trusts, real estate finance, and capital markets activities. The department is in the middle of efforts to implement new financial products suitability standards that could affect the sale of life insurance, as well as the sale of annuities and other types of financial services products.