N.Y. Comp. Codes R. & Regs. tit. 9 § 5102.11
It shall be the continuing duty of each applicant or licensee to promptly file with the commission a written amendment to the application explaining any new or changed facts or circumstances whenever any material or significant new or changed facts or circumstances occur with respect to any matter set forth in the application or other papers relating thereto. Any applicant or licensee may be permitted by the commission to file any other amendment to such applicant or licensee's application at any time prior to final action thereon by the commission. The failure of an applicant or licensee to comply with this section shall be grounds for rejection of the application or for suspension or revocation of a license.
N.Y. Comp. Codes R. & Regs. Tit. 9 § 5102.11