The New York State Department of Financial Services (the “Department”) has issued guidance (“Guidance”) to all individuals and entities regulated by the Department (“Regulated Entities”) to underscore the importance of...more
6/24/2025
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Virtual Currency
DFS has developed a draft pre-proposal notice regarding proposed amendments to 11 NYCRR 52 (Insurance Regulation 62) which, if adopted, would amend the minimum standards for form, content, and sale of health insurance in New...more
On February 21, 2024, Change Healthcare, a platform that provides certain technology solutions for the health care industry, experienced a nationwide network interruption related to a cybersecurity issue (cyber incident) and...more
On February 23, 2023, The New York Department of Financial Services’ (“Department”) Pharmacy Benefits Bureau (“PBB”) announced a final request for public engagement as the Department looks to develop regulatory standards...more
On April 19, 2022, The New York Superintendent of Financial Services, noting the increase in the number of insurance company mergers and acquisitions in recent years, issued Circular Letter No. 5 (guidance) to educate...more
Following on the heels of the New York Department of Financial Services February 25, 2022 letter to regulated entities regarding the “Escalating Situation in Ukraine and the Impact to Financial Sector,” on March 2, 2022,...more
Effective December 15, 2021 (and through the January 1, 2027 sunset date when the regulation will again be evaluated), the New York Department of Financial Services (“DFS”) adopted Regulation 172 (the “Regulation”), which...more
The amended Regulation 187, Suitability and Best Interests in Life Insurance and Annuity Transactions (Regulation) took effect Aug. 1, 2019, for annuity sales, and began applying to life insurance sales on Feb. 1, 2020. The...more
DFS reports that its Cybersecurity Portal has been redesigned to assist users with their filings. To ensure that filings are matched to the appropriate Covered Entity or licensed person, DFS requires the use of an identifying...more