News & Analysis as of August 4, 2025

Financial Services Industry

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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 -

EU Standards for Threat-Led Penetration Testing: New Cyber Compliance Imperatives for Financial Institutions

Jones Day on 7/31/2025

The EU has introduced Delegated Regulation (EU) 2025/1190, establishing the first harmonized standards for threat-led penetration testing ("TLPT") across the financial sector. The regulation aims to strengthen the cyber...more

Regulation (EU) 2025/1355 on oversight of systemically important payment systems published in OJ

A&O Shearman on 7/25/2025

Regulation (EU) 2025/1355 of the European Central Bank (ECB) adopted on 2 July has been published in the Official Journal of the European Union. This Regulation recasts and replaces Regulation (EU) No 795/2014, updating the...more

UK Weekly Sanctions Update - Week of July 14, 2025

Mayer Brown on 7/21/2025

RUSSIA SANCTIONS - UK Lowers Oil Price Cap on Seaborn Russian Crude Oil, OFSI publishes related FAQs: On July 18, 2025, the UK Government, alongside the EU, announced that it will lower to Oil Price Cap on seaborne Russian...more

CFTC Commissioner discusses AI uses in financial services

Orrick, Herrington & Sutcliffe LLP on 7/18/2025

On July 14, the Commissioner of the CFTC, Kristin Johnson, spoke at an international regulators roundtable to discuss AI in the financial services sector and emerging cyber risks. The Commissioner’s speech highlighted AI’s...more

[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

Swipe, Tap, Comply: What PCI DSS 4.0.1 Means for your Business

Miller Nash LLP on 7/14/2025

With the seemingly never-ending updates to B2B contracts for compliance with new (and amended) comprehensive state privacy laws, the U.S. Department of Justice’s bulk data transfer rule, and artificial intelligence (AI)...more

Weekly Blockchain Blog - July 2025

BakerHostetler on 7/14/2025

According to a recent press release, the issuer of the USDC stablecoin has submitted an application to the Office of the Comptroller of the Currency (OCC) to establish a national trust bank, First National Digital Currency...more

EBA publishes spring 2025 risk assessment report

A&O Shearman on 7/10/2025

The European Banking Authority (EBA) has published its spring 2025 risk assessment report alongside a press release, outlining key developments and emerging risks within the European Union/European Economic Area (EU/EEA). The...more

Mid-Year 2025 Financial Services Litigation Update

Baker Donelson on 7/9/2025

Litigation against banks and other financial services firms is always evolving. This mid-year 2025 update discusses trends from recent case filings and decisions and highlights the importance of awareness of new legal...more

HB1127 Explained: North Dakota’s New InfoSec Requirements for Financial Corporations

Jackson Lewis P.C. on 7/7/2025

Earlier this year, North Dakota’s Governor signed HB 1127, which introduces new compliance obligations for financial corporations operating in North Dakota. This new law will take effect on August 1, 2025....more

EU Delegated Regulation on threat-led penetration testing published in OJ

A&O Shearman on 6/30/2025

Commission Delegated Regulation (EU) 2025/1190 of 13 February has been published in the Official Journal of the European Union. The Delegated Regulation supplements the Digital Operational Resilience Act (DORA) with regard to...more

NYDFS Issues Guidance on Heightened Cybersecurity and Sanctions Risk from Global Conflict

Alston & Bird on 6/30/2025

Overview - On June 23, 2025, the New York State Department of Financial Services (“NYDFS”) issued an industry letter encouraging all regulated entities to review their cybersecurity and sanctions compliance programs in light...more

Right To Know - June 2025, Vol. 30

Clark Hill PLC on 6/19/2025

Cyber, Privacy, and Technology Report - Welcome to your monthly rundown of all things cyber, privacy, and technology, where we highlight all the happenings you may have missed. State Action: North Dakota Passes Law...more

North Dakota Passes New Data Security Law for “Financial Corporations”

Sheppard Mullin Richter & Hampton LLP on 6/17/2025

North Dakota recently passed a law establishing new rules for certain financial companies operating in the state – specifically “financial corporations.” The new obligations will take effect on August 1, 2025. They will apply...more

Financial services industry trade groups pen letter to Treasury Secretary Bessent on cybersecurity risks

Orrick, Herrington & Sutcliffe LLP on 6/16/2025

On June 9, multiple financial services trade associations sent a letter to Treasury Secretary Scott Bessent expressing concerns about cybersecurity risk management practices at federal regulatory agencies following the OCC’s...more

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

Mayer Brown Free Writings + Perspectives on 6/9/2025

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

GAO report focuses on AI use in financial services

Orrick, Herrington & Sutcliffe LLP on 5/27/2025

On May 19, the GAO published a report discussing the use and oversight of AI in financial services. The report highlighted the benefits of AI, such as improved efficiency, reduced costs, and enhanced customer experience,...more

Nouveau cadre relatif aux incidents de sécurité de l’information à l’intention des institutions financières québécoises

Blake, Cassels & Graydon LLP on 5/22/2025

Le 23 avril 2025, le Règlement sur la gestion et le signalement des incidents de sécurité de l’information de certaines institutions financières et des agents d’évaluation du crédit (le « Règlement ») est entré en vigueur au...more

CMORG AI Taskforce releases comprehensive AI Baseline Guidance

A&O Shearman on 5/20/2025

The Cross Market Operational Resilience Group's (CMORG) AI Taskforce has released its AI Baseline Guidance Review (dated January 2025), accompanied by a press release. The CMORG AI Taskforce conducted a baseline review of...more

NYDFS: Penultimate set of cybersecurity requirements under amended Part 500 take effect May 1, 2025

Hogan Lovells on 5/12/2025

On May 1, 2025, additional cybersecurity requirements introduced by the Second Amendment to the New York Department of Financial Services (NYDFS) Cybersecurity Regulation (23 NYCRR Part 500) (the “Second Amendment”) took...more

Operational resilience in banking: from regulatory compliance to strategic priority

A&O Shearman on 4/29/2025

As regulatory frameworks tighten and cybersecurity threats grow in complexity, operational resilience is, now more than ever, a boardroom challenge for banks....more

FSB publishes finalised format for FIRE framework

A&O Shearman on 4/24/2025

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

2025 State Cybersecurity Legislation Focuses on Financial Services

Alston & Bird on 4/21/2025

Eight years ago, on March 1, 2017, the New York Department of Financial Services enacted its landmark cybersecurity regulation covering financial services companies, 23 NYCRR Part 500, known as “Part 500.” Part 500 was the...more

Daily Compliance News: April 16, 2025, The Fired by AI Edition

Thomas Fox - Compliance Evangelist on 4/16/2025

Welcome to the Daily Compliance News. Each day, Tom Fox, the Voice of Compliance, brings you compliance-related stories to start your day. Sit back, enjoy a cup of morning coffee, and listen to the Daily Compliance News—all...more

[Event] 9th Annual Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems - May 12th - 14th, New York, NY

American Conference Institute (ACI) on 4/15/2025

Meet key stakeholders in Banking, FinTech, and broader payment systems next month at ACI’s 9th Annual Legal, Regulatory and Compliance Forum on FinTech & Emerging Payment Systems. Gain valuable insights from these industry...more

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