Benjamin Lawsky, aka the sheriff of Wall Street, is planning to step down from his role as New York's top financial regulator in late June to start his own legal and consulting firm, The New York Times reported Wednesday, citing people briefed on the matter. Lawsky is a former Democratic aide and federal prosecutor, who has been aggressive in bringing cases against Deutsche Bank, Standard Chartered and others during his four-year tenure at the Department of Financial Services, the regulator of New York's banking and insurance industries. The department was created by New York Governor Andrew Cuomo in the wake of the financial crisis. The NYT report comes just hours after regulators around the globe fined banks nearly $6 billion for rigging the currency market.
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