Daniel S. Alter
Daniel S. Alter is a shareholder in the New York office of Murphy & McGonigle P.C., and, having served in several positions that helped give shape to the industry, focuses his legal practice on FinTech and other financial services related regulatory matters. Prior to joining his firm, Mr. Alter was general counsel and chief compliance officer for the first New York State-chartered trust company providing blockchain systems for post-trade settlement, custody, and virtual currency exchange services.
Earlier, as general counsel for the New York Department of Financial Services – the state’s financial industry regulator – Mr. Alter was the agency’s chief legal officer, responsible for department-wide oversight of regulatory and licensing matters, criminal and civil enforcement operations, proposed legislation, and internal administrative functions. In that role, he was the principal legal counsel and a strategic advisor to the New York State Superintendent of Financial Services regarding state, national, and international banking, insurance, capital markets, real estate finance, and consumer protection issues. Among other duties, he was a primary architect of the Bitlicense for regulating cryptocurrencies, and directed or co-directed ground-breaking DFS initiatives anti-money laundering and international sanctions enforcement, global investigations into FX rate manipulation, and industry-wide reform for independent consulting firm practices. In connection with DFS regulatory enforcement actions, Mr. Alter assisted in the appointment and supervision of numerous independent monitors and consultants retained by financial institutions to remedy corporate misconduct and failed compliance systems.
Before his work at DFS, he was Senior Advisor and Special Counsel to the New York State Attorney General, where he helped formulate policy and litigation strategy for major law enforcement initiatives across all divisions of the office. He also co-directed the Attorney General’s investigation and enforcement program regarding systemic fraud in the Residential Mortgage Backed Securities market and nationwide mortgage foreclosure abuses. Mr. Alter began his government service as an Assistant United States Attorney for the Southern District of New York, eventually serving as the deputy and acting chief of the office’s Civil Division.
Mr. Alter has been an adjunct professor and senior fellow at New York University Law School, teaching corporate compliance and enforcement. He writes and speaks widely on the intersection of financial technology and financial regulation, as well as regulatory compliance within the financial services industry. Finally, he is an Advisor to the American Law Institute’s Principles of the Law, Compliance, Enforcement, and Risk Management for Corporations, Nonprofits, and Other Organizations.