Michael Pieciak, financial regulation commissioner who led Vermont’s COVID modeling, to step down

A high Scott administration official who led the state’s modeling of COVID-19 over the previous two years will step down subsequent month.

Michael Pieciak has led Vermont’s Division of Monetary Regulation since 2017, a task by which he oversaw the monetary companies business and secured multimillion greenback settlements with insurance coverage firms and monetary corporations. In a press release saying his transfer, Pieciak stated that the division introduced $13 million again to Vermont shoppers by means of settlements throughout his tenure.

Pieciak has additionally presided over the winddown of the Vermont Regional Heart, the state-run workplace that oversaw EB-5 tasks. Over a number of years, Pieciak pushed again towards the federal authorities’s try to abruptly shut down the regional heart’s operations, arguing as a substitute for the workplace to ramp down step by step.

Previous to his function main the division, Pieciak was its deputy commissioner underneath former Gov. Peter Shumlin, when he was a part of the investigation that uncovered EB-5 fraud involving a number of financial growth tasks within the Northeast Kingdom.

Extra from VPR: Reporter debrief: DFR Commissioner Michael Pieciak says EB-5 fraudsters ought to get jail time

However Pieciak’s most seen function lately was far outdoors the monetary world. Within the Scott administration’s common press conferences, he laid out the trajectory of the pandemic with a weekly view of how circumstances, hospitalizations and different tendencies may impression the state.

Pieciak plans to step down on Might 16. Deputy Commissioner Kevin Gaffney will take over the division on an interim foundation.

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