Mr Lawsky, who has administered more that $6 billion of fines to financial institutions, was the first to head up the DFS, which was formed in 2011 as a merger of two smaller banking and insurance regulatory agencies. His departure coincided with a $485 million settlement with Barclays Bank for misconduct in its currency trading operations. He will also become a visiting scholar to Stanford Law School which is to set up a cyber programme.
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