Democrat Phil Murphy has been elected as the next Governor of the State of New Jersey. Murphy comes in to the office with a double-digit victory over departing lieutenant governor Kim Guadagno (R), and the backing of a state legislature controlled by Democrats. Governor-Elect Murphy, who has never served in elected office, promises to take the Garden State in a new direction.
Among the portions of his platform most likely to be of interest to businesses, Governor-Elect Murphy has committed to:
- “Establishing a state-level Consumer Financial Protection Bureau and strengthening existing regulations in light of President Trump’s efforts to roll-back the federal Dodd-Frank Wall Street reform law”;
- “Holding bankers accountable by prosecuting financial fraud”;
- “Requiring telecom providers and ISPs to seek permission before collecting personal information”;
- “Appointing an Attorney General who will enforce consumer protections around data privacy”;
- “Improving our state’s existing cybersecurity and other Homeland Security initiatives”; and
- “Convening stakeholders in government, industry, and academia to share best practices in cybersecurity and to foster new innovations.”