12 July 2016 Insurance

Vermont Governor names DFR commissioner

The Vermont Captive Insurance Association has appointed Michael Pieciak as commissioner of the department of financial regulation (DFR).

Appointed by Vermont Governor Peter Shumlin, Pieciak replaces Susan Donegan, who left the department last month.

Rich Smith, president of the VCIA, will meet with Pieciak this week to discuss Vermont’s captive insurance industry.

Pieciak previously served as 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 chairman of the North American Securities Administrators Association (NASAA) corporate finance section committee, and serves on NASAA's federal legislation, state legislation and capital formation committees.

Pieciak 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.

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