Good afternoon,

Attached please find correspondence from the NYS Department of Financial Services, pertaining to your FOIL request.

Thank you.

Tracking Number:FOIL-2023-095358-020881

Re: FOIL Tracking No. 2023-095358

Dear Gunnar Larson:

I write with respect to your above-referenced FOIL request. The New York State Department of

Financial Services (DFS) requires additional time to respond to your request, assigned the

tracking number 2023-095358, because we are still processing your request.

DFS intends to provide its determination of your request by December 22, 2023. We appreciate

your continued patience.

Thank you.

---------- Forwarded message ---------

From: <noreply@its.ny.gov>

Date: Tue, Jun 27, 2023, 6:52 PM

Subject: FOIL Request Confirmation from Open FOIL NY

To: <G@xny.io>

Thank you for submitting your FOIL request through Open FOIL NY. 

Here is your Open FOIL NY confirmation information for future reference:   

LARSON_DFS_20230627185237536

INFORMATION SUBMITTED:

Records Requested From

Department of Financial Services

Short Title

DFS Investigation Finds Robinhood Crypto Failed to Maintain Effective and Compliant BSA/AML and Cybersecurity Programs

Description

Dear Madam or Sir: On August 2, 2022 the Superintendent of Financial Services Adrienne A. Harris announced that Robinhood Crypto, LLC (“RHC”) would pay a $30 million penalty to New York State for significant failures in the areas of bank secrecy act/anti-money laundering (“BSA/AML”) obligations and cybersecurity that resulted in violations of the Department’s Virtual Currency Regulation (23 NYCRR Part 200), Money Transmitter Regulation (3 NYCRR Part 417), Transaction Monitoring Regulation (23 NYCRR Part 504), and Cybersecurity Regulation (23 NYCRR Part 500). xNY.io - Bank.org would like to receive any and all records related to NY-DFS' investigation of Robinhood Crypto. Including (but not limited to) records concerning the bespoke Supervisory Agreement Robinhood Crypto has with the Department of Financial Services mentioned here: https://www.dfs.ny.gov/reports_and_publications/press_releases/pr202208021. In addition, xNY.io - Bank.org seeks any and all records concerning New York's approach to Robinhood Crypto and Goldman Sachs compliance programs mandated by the United States Department of Justice, Criminal Division, Fraud Section and Money Laundering and Asset Recovery Section mentioned here: https://drive.google.com/file/d/1Yx88RMoeLyyfbNK0RtPl4r-m8N21_1Sp/view?usp=drivesdk. Finally, xNY.io - Bank.org seeks records concerning New York's regulatory approval of Robinhood Crypto engaging a fine of $30M to implement heightened controls and additional procedures and policies relating to electronic surveillance and investigation, due diligence on transactions or clients and the use of third-party intermediaries across business units; and enhancing anti-corruption training for all management and relevant employees. Warm regards, Gunnar Larson xNY.io - Bank.org 917-580-8053

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Your FOIL request has been forwarded to the organization(s) you selected, and the respective Records Access Officer will contact you directly for further processing of your request. Please allow up to five business days for such communication(s). For your convenience, here is additional contact information:

Department of Financial Services

One State Street

20th Floor

New York, NY 10004