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Bill

Bill

A 3695

Requires individuals who perform compliance functions, duties or tasks to obtain a compliance officer or compliance practitioner license

2025 Regular Session Introduced by David Weprin

New York bill mandates licensing for compliance officers and practitioners, creating professional credentialing requirements for currently unlicensed compliance roles across regulated industries.

REFERRED TO BANKS
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Bill Summary · A 3695

Legislative bill overview

Bill A 3695 would require individuals performing compliance functions, duties, or tasks in New York to obtain either a compliance officer or compliance practitioner license. The bill establishes a new licensing regime overseen by a state regulatory body, creating professional credentialing requirements for what is currently an unlicensed occupation.

Why is this important

Compliance roles are critical in financial institutions, healthcare, legal firms, and other regulated industries, but currently no uniform licensing exists. This bill would formalize professional standards, potentially improving accountability and competency across sectors—but would also create a barrier to entry and administrative burden for employers and workers transitioning into compliance roles.

Potential points of contention

  • Scope ambiguity: "Compliance functions, duties or tasks" is broadly defined and could capture internal audit, legal review, or quality assurance roles beyond traditional compliance officer positions, affecting more workers than intended
  • Licensing costs and burden: New licensing requirements create expenses for individuals and employers; unclear whether existing compliance professionals would be grandfathered in or must immediately obtain credentials
  • Regulatory oversight gaps: The bill refers to "Banks" committee but doesn't specify which agency administers licensing, exam standards, or renewal requirements, leaving implementation details undefined
  • Competitive disadvantage: Requiring New York licenses for compliance staff could disadvantage New York businesses competing with out-of-state firms not subject to these requirements

Compiled from official sources — confirm details with the bill’s official record.

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