12 July 2016USA analysis

Vermont Governor appoints DFR commissioner

Vermont Governor Peter Shumlin has named Michael Pieciak as commissioner of the department of financial regulation (DFR).

Shumlin appointed Pieciak as Susan Donegan’s replacement, who left the department last year.

President of the VCIA, Rich Smith, will meet with Pieciak to debate Vermont’s captive insurance industry.

Pieciak was previously a deputy commissioner of the Vermont securities division of DFR, the state agency charged with oversight of the securities industry in Vermont.

He is currently an observer member of the SEC Advisory Committee on small and emerging companies and is also chairman of the North American Securities Administrators Association (NASAA) corporate finance section committee. He also serves on NASAA’s federal legislation, state legislation and capital formation committees.

Prior to this, he practiced law in New York City at Skadden, Arps, Slate, Meagher & Flom in the Mergers and Acquisitions Group, gaining experience in commercial transactions, corporate governance and investment and financing transactions.

He previously practiced at Downs Rachlin Martin in Burlington, Vermont, in the Business Law Group.