News & Analysis as of July 31, 2025

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

[Webinar] Top 5 Game-Changing Regulatory Shifts Impacting Financial Compliance and Board Accountability - September 24th, 1:00 pm...

American Conference Institute (ACI) on 7/18/2025

Don’t miss this complimentary webinar spotlighting the five most pressing regulatory developments reshaping compliance in Canada’s financial sector. From board-level liability, to shifting enforcement priorities, get up to...more

Is the Roof on Fire? Data Privacy Risk in the Financial Services Industry

Woodruff Sawyer on 2/21/2024

Compliance is difficult, and litigation and enforcement risks are high for financial services companies. Navigating a Proustian rulebook, it’s impossible to get everything right all the time. Legal and compliance work in...more

NYDFS Amended Cybersecurity Rules: Overview of Upcoming Deadlines

Akin Gump Strauss Hauer & Feld LLP on 12/20/2023

On November 1, 2023, the New York Department of Financial Services (NYDFS) announced the adoption of amendments to its Cybersecurity Regulation 23 NYCRR Part 500 (“Amended Cybersecurity Rules” or “Amended Rules”). NYDFS...more

Protecting Personal Data in the Banking Industry: Lessons from the Farage Controversy

Thomas Fox - Compliance Evangelist on 9/1/2023

Today I want to consider a burgeoning imbroglio in the UK involving Nigel Farage. While you might not think of Farage as a candidate for the FCPA Compliance Blog, it turns out that his current banking situation has some very...more

CFPB: Safeguard Consumer Data or Face Liability

Sheppard Mullin Richter & Hampton LLP on 8/23/2022

The CFPB recently published a circular clarifying liability under consumer financial protection law for financial companies that fail to safeguard consumer data. The circular describes how firms may be violating the CFPA’s...more

Federal Regulators Adopt New Computer-Security Incident Notification Requirements for Banks and Service Providers

Pillsbury Winthrop Shaw Pittman LLP on 12/2/2021

In response to increasingly frequent and sophisticated cybersecurity attacks on banks and bank service providers, the federal prudential banking regulators—the Office of the Comptroller of the Currency (OCC), the Board of...more

Open Banking: Navigating the Emerging Regulatory Landscape

Skadden, Arps, Slate, Meagher & Flom LLP on 10/28/2020

Open banking is an important driver of the fintech revolution. Regulators have recognised open banking as a means of introducing competition and innovation in the banking sector. Likewise, fintechs are seizing the...more

U.S. Organizations Doing Business in China Warned of Malware in Tax Software

Robinson+Cole Data Privacy + Security Insider on 8/28/2020

The Federal Bureau of Investigations (FBI) and the Cybersecurity and Infrastructure Security Agency (CISA) have issued a joint Flash Alert to U.S. based businesses doing business in China about a remote targeting campaign...more

First Enforcement Action by New York Department of Financial Services Under Cybersecurity Regulation

Akin Gump Strauss Hauer & Feld LLP on 8/7/2020

On July 21, 2020, the New York Department of Financial Services (DFS) filed a “Statement of Charges and Notice of Hearing” (the “Charges”) against First American Title Insurance Company (the “Company”) alleging violations of...more

Financial Services Firms Face New Cybersecurity Regulation

White and Williams LLP on 5/8/2020

The close of 2019 witnessed a significant development in data security law that impacts companies engaged in the trading of public securities, as well as those companies that provide services to such organizations....more

California Consumer Privacy Act: A Reference Guide for Compliance

Carlton Fields on 10/22/2019

California passed a sweeping new privacy law that will impact many businesses. The California Consumer Privacy Act of 2018 (CCPA) is the first U.S. law to grant consumers extensive rights as to their personal information and...more

Are Banks and Other Lenders Subject to the CCPA?

Carlton Fields on 8/30/2019

California’s new privacy statute imposes a number of new requirements on businesses that touch the personal information of California consumers. Its reach includes banks and financial services companies....more

Notes from a Veteran Presenter at the Acquire or Be Acquired Conference

Stinson LLP on 1/18/2019

When you imagine banking 10, 15 or 25 years ago, you quickly realize the breathtaking pace of change affecting the industry. Consolidation, competition and convenience have redefined relationships and profit margins. And as...more

Privacy & Cybersecurity Update - November 2018

Skadden, Arps, Slate, Meagher & Flom LLP on 12/5/2018

In this month's edition of our Privacy & Cybersecurity Update, we examine a declaration on ethical considerations for artificial intelligence, the annual joint review of the Privacy Shield, a new lawsuit from a snack food...more

Blockchain Developments: NY AG Issues Report, Major Japanese Exchange Hacked, Global Attitudes Diverge and Use Cases for Social...

BakerHostetler on 9/21/2018

New York Attorney General Issues Virtual Markets Integrity Initiative Report - On Sept. 18, 2018, the New York Attorney General’s Office released its Virtual Markets Integrity Initiative Report. The report addressed 10 major...more

ICYMI in Cybersecurity and Data Breach

Davis Wright Tremaine LLP on 3/12/2018

Why Is Health Care Cybersecurity So Bad? Blame the Insiders, New Verizon Report Says - As reported originally in Fortune, “a new cybersecurity report from Verizon outlines the stunning degree to which internal actors are...more

French Data Protection Authority Approves Implementation of Biometric Authentication Tools in Banking Sector

Jones Day on 6/16/2017

On May 29, 2017, the French Data Protection Authority (Commission Nationale Informatique et Libertés, or "CNIL") announced that it had authorized nine banking institutions to implement, on an experimental basis,...more

Global Privacy & Cybersecurity Update Vol. 13

Jones Day on 3/15/2017

On December 28, 2016, the New York Department of Financial Services ("DFS") released a revised version of a proposed regulation that would require banks, insurance companies, and other financial services institutions...more

Orrick's Financial Industry Week In Review

Orrick, Herrington & Sutcliffe LLP on 1/13/2017

Financial Industry Developments - Prohibition on Dealing or Investing in Industrial or Commercial Metals - On January 3, 2017, the Office of the Comptroller of the Currency (the "OCC") finalized a rule that...more

NYDFS Revises Cybersecurity Regulation, Extends Effective Date to March 1, 2017

Ballard Spahr LLP on 12/29/2016

The New York Department of Financial Services (NYDFS) announced today a revised regulation that will require all institutions subject to NYDFS supervision to establish and maintain a cybersecurity program meeting "certain...more

NY Financial Services Companies’ 2017 Resolution: Cybersecurity

Foley & Lardner LLP on 12/3/2016

The New York State Department of Financial Services (DFS) made headlines back in late September with a “first-in-the-nation” piece of legislation aimed at mandating specific cybersecurity protocols for banks, insurance...more

DFS Cyber Regulation: Part II – An Interview with Bay Dynamics’ Steven Grossman

Patterson Belknap Webb & Tyler LLP on 11/23/2016

This is the second installment in our interview with Steven Grossman, VP Strategy & Enablement at Bay Dynamics, the cyber risk analytics company. Here, Steven discusses the importance of aligning an institution’s risk...more

Banks to Broaden Reporting of Suspicious Cyber Activity; Regulators Propose “Enhanced” Cybersecurity Standards

Carlton Fields on 11/23/2016

The fourth quarter of 2016 has seen an uptick in regulatory activity respecting the financial services sector in the cybersecurity space, both at the state level as previously discussed (here) and on the federal level....more

What You Must Know about New York’s Proposed Cybersecurity Regulation for the Banking, Insurance, and Financial Services Sectors

Carlton Fields on 10/10/2016

Last week, New York’s Department of Financial Services released its long-awaited proposed cybersecurity regulation, which promises to deliver sweeping protections to consumers and financial institutions alike. The proposed...more

Privacy & Cybersecurity Update: New York State Proposes Cybersecurity Regulation for Financial Institutions

Skadden, Arps, Slate, Meagher & Flom LLP on 9/15/2016

New York state has proposed a new regulation — to go into effect January 1, 2017 — that would require banks, insurance companies and other financial services institutions regulated by the New York State Department of...more

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