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Cyber Threats Cybersecurity Financial Services Industry

Fisher Phillips

New Cyber Rules in Effect as of May 1 for NY Financial Firms: 3 Key Compliance Priorities

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New cybersecurity requirements just kicked in for thousands of financial firms operating in New York, and companies need to make sure they have taken action to comply. As of May 1, the latest amendments to the New York...more

Integreon

DORA Compliance Part 1: Proactively Meeting DORA Supply Chain Resilience Obligations

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Introduction to DORA and its Implications - As of Jan.17, 2025, the European Union’s Digital Operational Resilience Act (DORA) became enforceable. This new regulatory framework significantly impacts financial institutions and...more

A&O Shearman

European Commission adopts Delegated Regulation on RTS on threat-led penetration testing under DORA

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The European Commission (EC) has adopted a Commission Delegated Regulation supplementing the Digital Operational Resilience Act (DORA) with regard to RTS specifying the criteria used for identifying financial entities...more

Orrick, Herrington & Sutcliffe LLP

Cyber Threats in Public Finance: Protecting Transactions from Wire Fraud

A recent cyberattack on a Michigan township has exposed weaknesses in the bond-closing process. In this incident, hackers stole over $25 million in bond proceeds by using spoofed email addresses to provide fraudulent wire...more

Robinson+Cole Data Privacy + Security Insider

CFPB Issues Proposed Rule to Restrict Data Brokers’ Use of Data

The Consumer Financial Protection Bureau (CFPB) announced this week that it intends to increase the scrutiny on data brokers to better protect service members, law enforcement officials, domestic violence victims, senior...more

Akerman LLP - Health Law Rx

NYDFS Highlights Strategies to Combat AI Cybersecurity Risks

The increased use of artificial intelligence (AI) in the banking, insurance, and financial services industries has led the New York State Department of Financial Services (NYDFS or Department) to publish an Industry Letter on...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

New York State Department of Financial Services Releases Guidance on Combating Cybersecurity Risks Associated With AI

On October 16, 2024, the New York State Department of Financial Services (NYDFS) released guidance highlighting the cybersecurity risks associated with artificial intelligence (AI) and how covered entities regulated by NYDFS...more

A&O Shearman

European Commission Adopts Implementing Technical Standards and Regulatory Technical Standards on Notification of Major...

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The European Commission has adopted the following legislation supplementing the EU Digital Operational Resilience Act: (i) Commission Delegated Regulation containing Regulatory Technical Standards specifying the content and...more

Kilpatrick

AI Cybersecurity Guidance Summary - NYDFS and Singapore CSA

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As regulators worldwide continue to scrutinize the impact of AI on industries within their respective purviews, two key global agencies issued guidance in October 2024 that highlighted AI-based cybersecurity risks and best...more

Mayer Brown

New York State Department of Financial Services Issues Industry Letter on Cybersecurity Risks Arising from Artificial Intelligence

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BACKGROUND - On October 16, 2024, the New York State Department of Financial Services (DFS) issued an industry letter, Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks,...more

Saul Ewing LLP

New York Department of Financial Services Guidance on AI-Related Cybersecurity Risks

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On October 16, 2024, the New York Department of Financial Services (“NYDFS”) issued guidance and strategies (“Guidance”) concerning cybersecurity risks that arise in response to the advancements in artificial intelligence...more

Baker Donelson

New York DFS Releases AI Cybersecurity Guidance

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The New York Department of Financial Services (NYDFS) issued new guidance (the Guidance) on October 16, 2024, to help state-regulated financial institutions mitigate the myriads of cybersecurity risks posed by artificial...more

Robinson+Cole Data Privacy + Security Insider

NYDFS Issues Industry Letter on Risks Arising from Artificial Intelligence

On October 16, 2024, the New York Department of Financial Services (DFS) issued an Industry Letter to regulated entities entitled “Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related...more

Alston & Bird

NYDFS Issues Guidance on Artificial Intelligence-related Cybersecurity Risks

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On October 16, 2024, the New York Department of Financial Services (“NYDFS”) issued an industry letter covering Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks (the “Industry...more

Venable LLP

Offensive Security Under the EU Digital Operational Resilience Act (DORA)

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The Digital Operational Resilience Act (DORA) regulation is part of the European Union’s (EU) strategy to enhance the overall stability of the EU financial system by ensuring that financial entities are resilient to digital...more

Mayer Brown

Cybersecurity Regulations on the March

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Join us on the latest episode of Financial Services Focus as Justin Herring, Jeff Taft and Ana Bruder discuss key cyber threats facing the financial services industry, including third-party risks, sophisticated ransomware,...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 28: Preparing Financial Systems for Post-Quantum Cyber Risk

Rick Bueno, the president and CEO of Cyber Reliant Corp, joins RegFi cohosts Jerry Buckley and Sasha Leonhardt to share his insights about post-quantum cyber risk. Rick explains how the exponential difference in computing...more

Epiq

Data Breaches up 72% From Record High: Cyber Incident Readiness Must be Top of Mind

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“Protect your data! Breaches are on the rise!” These warnings seem to be everywhere – and rightfully so. Threat actors are sophisticated and new breach trends are constantly materializing. Awareness is no longer enough. It...more

WilmerHale

NYDFS Finalizes Amendments to Cybersecurity Regulations

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On November 1, 2023, New York Department of Financial Services (NYDFS or the “Department”) released the finalized revisions (the “Second Amendment”) to 23 NYCRR Part 500 (Part 500) – the most significant modifications to Part...more

Mitratech Holdings, Inc

[Webinar] Expert Perspectives: Implementing DORA, Mastering the Challenges and Opportunities - May 17th, 9:00 am ET

DORA is set to transform how European based Financial Institutions enhance the operational resilience of their critical business processes. With an implementation date of 17th January 2025 the evolving nature of the...more

Eversheds Sutherland (US) LLP

Financial services regulators ramp up cybersecurity reporting requirements

US financial services regulators are continuing to enhance cyber reporting requirements in response to increasing geopolitical tensions, emerging technologies, the proliferation of cyber-attacks, and larger market events....more

Barnea Jaffa Lande & Co.

New Israeli Directives on Cyber Risk Management and Risk Management for Regulated Financial Service Providers

Israel’s Capital Market, Insurance and Savings Authority (CMISA) recently published two new risk management circulars for financial service providers. The first circular pertains to risk management in its broadest sense,...more

Goodwin

SEC Proposes Rules to Include Certain Significant Market Participants as “Dealers” or “Government Securities Dealers”

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In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed rules to include certain significant market participants as “dealers” or “government securities dealers” to essentially eliminate the trader exclusion...more

Fisher Phillips

Forecast: March 2022 Edition

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Welcome to FP Forecast, a monthly outlook featuring Fisher Phillips thought leaders providing their insights into what employers can expect in 2022 and beyond. By following along each month, you’ll be in the best position to...more

Goodwin

SEC Proposes Short Sale Disclosure Rule and Reopens Comment Period for Reporting on Securities Loans

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In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule to increase market transparency regarding short selling and extended the comment period for its proposed rule requiring reporting on...more

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