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Cyber Incident Reporting Regulatory Requirements Financial Services Industry

Mayer Brown Free Writings + Perspectives

SIFMA and Other Industry Groups Petition SEC for Recission of Cybersecurity Disclosure Requirement

In late May 2025, the Securities Industry and Financial Markets Association (SIFMA), together with the American Bankers Association, Bank Policy Institute, Independent Community Bankers of America, and Institute of...more

A&O Shearman

FSB publishes finalised format for FIRE framework

A&O Shearman on

The Financial Stability Board (FSB) has published its finalised Format for Incident Reporting Exchange (FIRE), together with a press release and updated webpage. FIRE provides a standardised format for financial institutions...more

Ballard Spahr LLP

FHA issues revised cybersecurity requirements

Ballard Spahr LLP on

As previously reported in May 2024 FHA announced a requirement for FHA approved lenders to notify the U.S. Department of Housing and Urban Development (HUD) of Significant Cybersecurity Incidents, and the requirement was...more

Wyrick Robbins Yates & Ponton LLP

Maybe Not Practical After All: HUD Proposes Revised Cyber Incident Reporting Requirement for FHA-Approved Mortgagees

As we discussed in a recent post, earlier this year the U.S. Department of Housing and Urban Development (“HUD”) issued Mortgagee Letter 2024-10, which imposed a new requirement on all FHA-approved mortgagees to report...more

Polsinelli

FTC Adopts Data Breach Notification Obligations for Non-Banking Financial Institutions

Polsinelli on

On October 27, 2023, the Federal Trade Commission (“FTC”) adopted an amendment to the FTC’s Safeguards Rule that will require non-banking financial institutions to notify the FTC within thirty days of discovering a data...more

Nelson Mullins Riley & Scarborough LLP

NCUA Announces New Cyber Threat Reporting Requirement

The NCUA stated the new rule, which was approved on Feb. 16, 2023, aims to mitigate cyber incidents “that [lead] to a substantial loss of confidentiality, integrity, or availability of a network or member information system...more

Polsinelli

Federal Banking Regulators Issue New Guidance for Complying with 36 Hour Cybersecurity Incident Reporting Requirement

Polsinelli on

On March 29, 2022, federal banking regulators issued important guidance for how banking organizations can comply with the upcoming requirement to notify regulators within 36 hours of ransomware or other disruptive...more

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