News & Analysis as of August 2, 2025

Risk Assessment

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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 -

OSC Publishes 2025 Examination Priorities for Dealers, Advisers, Investment Fund Managers and Other Regulated Entities

Stikeman Elliott LLP on 7/22/2025

The Registration, Inspections and Examinations Division (“RIE”) of the Ontario Securities Commission (“OSC”) has released its 2025 examination priorities, which are informed by the OSC’s 2024-2030 Strategic Plan as well as...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

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

NY Department of Financial Services Issues Guidance to its Regulated Industry As a Result of the Ongoing Global Conflict

Bressler, Amery & Ross, P.C. on 6/24/2025

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

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

New York Cybersecurity Regulation Requires Submission of Compliance Certification or Acknowledgement of Noncompliance Next Week

Quarles & Brady LLP on 4/10/2025

On April 3, 2025, the New York State Department of Financial Services (“DFS”) issued reminders about upcoming implementation and reporting deadlines related to its cybersecurity regulations. Upcoming deadlines require...more

European Commission adopts RTS on the elements to assess when subcontracting certain ICT services under DORA

A&O Shearman on 4/2/2025

The European Commission has adopted a Delegated Regulation supplementing Regulation 2022/2554 on digital operational resilience for the financial sector (DORA) with regard to regulatory technical standards specifying the...more

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

A&O Shearman on 2/24/2025

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

Cyber Threats in Public Finance: Protecting Transactions from Wire Fraud

Orrick, Herrington & Sutcliffe LLP on 2/3/2025

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

Applying the Enterprise Risk Mindset to AI

Mayer Brown on 1/24/2025

Artificial intelligence (AI) and other emerging technologies have the potential to revolutionize the financial industry. At the same time, its use introduces new risks that need to be anticipated and addressed. This paper...more

NYDFS Releases Artificial Intelligence Cybersecurity Guidance For Covered Entities

White & Case LLP on 11/26/2024

On October 16, 2024, the New York State Department of Financial Services (the "DFS"), under its Cybersecurity Regulation—23 NYCRR Part 500—issued a memorandum providing guidance on the risks posed by artificial intelligence...more

Call For Public Comment: A Report on AI Use in the Financial Sector

Barnea Jaffa Lande & Co. on 11/25/2024

This month, an interim report on artificial intelligence in the financial sector was published for public comment. The report was written by the Ministries of Justice and Treasury, the Competition Authority, the Securities...more

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

Ogletree, Deakins, Nash, Smoak & Stewart,... on 11/13/2024

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

New York State Department of Financial Services Issues Guidance Concerning Cybersecurity Risks Posed by Artificial Intelligence

Baker Botts L.L.P. on 11/6/2024

Last month, the New York State Department of Financial Services (“DFS”), which has broad regulatory powers over financial services-related entities and insurance companies operating in New York State, published guidance...more

AI Cybersecurity Guidance Summary - NYDFS and Singapore CSA

Kilpatrick on 10/30/2024

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

Cyber and AI: NYDFS has entered the chat

A&O Shearman on 10/22/2024

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

New York DFS Releases AI Cybersecurity Guidance

Baker Donelson on 10/22/2024

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

SEC Tightens Cybersecurity Requirements with Regulation S-P Amendments

Foley & Lardner LLP on 6/14/2024

Share on Twitter Print Share by Email Share Back to top “The basic idea for covered firms is if you’ve got a breach, then you’ve got to notify. That’s good for investors.” Those were among the remarks that U.S. Securities and...more

Treasury Department Warns Financial Institutions to Prepare for AI-Age Fraud — AI: The Washington Report

Mintz - Antitrust Viewpoints on 4/5/2024

Pursuant to President Biden’s October 2023 AI executive order, the US Department of Treasury (Treasury) released a report on cybersecurity risks in the financial services sector in March 2024. While recognizing the...more

Cyber(in)security: New York Levies Fine for Failure to Implement Written Policies

Vinson & Elkins LLP on 12/4/2023

On November 27, 2023, the New York State Department of Financial Services (“DFS”) and First American Title Insurance Company (“First American”) entered into a consent order1 that resolved litigation over First American’s...more

New York DFS Finalizes Amendments to Cybersecurity Regulations

Hudson Cook, LLP on 12/1/2023

On November 1, 2023 the New York Department of Financial Services ("DFS") released amended cybersecurity regulations ("Regulations"). These changes will impose additional controls, demand more frequent risk assessments, and...more

NYDFS Expands Cybersecurity Regulations: Extortion Payment Reporting, Corporate Governance, and Technical Requirements

Jones Day on 11/16/2023

A major amendment to the New York State Department of Financial Services' cybersecurity regulations establishes affirmative cybersecurity oversight duties and requires companies to report extortion payments to the agency....more

FTC Requires Non-Bank Financial Institutions to Report Data Security Breaches Under Amended Safeguards Rule

Jones Day on 11/13/2023

On Friday, October 27, the Federal Trade Commission ("FTC") announced new amendments to the Safeguards Rule, requiring covered financial institutions to report certain data breaches to the FTC and reflecting its continuing...more

NYDFS Releases Major Update to Part 500 Cybersecurity Requirements for Financial Services Companies

Paul Hastings LLP on 11/2/2023

The New York Department of Financial Services (NYDFS) adopted a long-expected amendment to its Part 500 Cybersecurity Regulations (Part 500) this week. These are the first significant changes to Part 500 since its inception...more

[Event] 29th Annual Flagship Conference on Regulatory Compliance for Financial Institutions - November 21st - 22nd, Toronto, ON,...

American Conference Institute (ACI) on 10/30/2023

Don’t miss the opportunity to gain valuable insights from industry experts at Canadian Institute’s Annual Flagship Conference on Regulatory Compliance for Financial Institutions. This event will equip you with strategies to...more

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