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SFNet Creates the SFNet Guide to the New York Commercial Finance Disclosure Laws and Regulations
July 18, 2023
By SFNet
SFNet, through its Advocacy Committee, has created the SFNet Guide to the New York Commercial Finance Disclosure Laws and Regulations.
SFNet is pleased to provide its members with what it believes is the most comprehensive Guide to complying with the controversial New York Disclosure Regulations for Commercial Finance Transactions that go into effect August 1, 2023. The Regulations apply to non-regulated commercial institutions offering financial transactions of $2.5 million or less to New York borrowers.
While the intention of this legislation is to encourage transparency and enable comparisons between alternative financing options, it is SFNet’s view that the law, with its unrealistic, complex, one-size-fits-all approach instead will create more confusion than clarity for lenders and borrowers alike and inhibit, rather than enhance, the flow of capital. While SFNet has made a substantial investment in providing this resource, as well as the Guide pertaining to California, to SFNet members, we are committed to continuing to influence a more pragmatic solution in New York and elsewhere.
The NY Guide is available to SFNet National members at no cost. It is available to non-members for $995.
On July 25 from 12:00-1:00 p.m. ET join SFNet online for "Deciphering the NY Commercial Finance Disclosure Law".
This webinar is a members-only event.
During this webinar, the architects of SFNet’s Guide to the New York Commercial Finance Disclosure Law and Regulations will break down the challenging requirements to help members comply with the new regulations, which go into effect August 1, 2023.
Panelists include:
Robert Gage, Partner, Hudson Cook, LLP
Brett Garver, Partner, Moritt Hock & Hamroff LLP
Jonathan Helfat, Partner, Otterbourg P.C.
For more information or to register for the webinar, click here.
For more information and to learn how you can get involved, please visit SFNet’s Advocacy page or contact Michele Ocejo at mocejo@sfnet.com.
