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Financial Services Industry › Incident Response Plans › Risk Assessment

Jackson Lewis P.C.

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

Jackson Lewis P.C. on

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

Goodwin

NYDFS Publishes Guidance on AI-Related Cybersecurity Risks

Goodwin on

On October 16, 2024, the New York State Department of Financial Services (NYDFS or the “Department”) published an industry letter (the “Guidance”) regarding the increased reliance on artificial intelligence (AI) and the...more

Constangy, Brooks, Smith & Prophete, LLP

NY-licensed financial services companies must harden incident response plans, improve breach readiness by November 1

Constangy, Brooks, Smith & Prophete, LLP on

New York’s Cybersecurity Regulation continues its phased roll-out on November 1, when licensed financial services companies face a host of new requirements aimed at bolstering breach readiness and improving their ability to...more

Harris Beach Murtha PLLC

NY Department of Financial Services Issues AI Cybersecurity Guidance

Harris Beach Murtha PLLC on

The New York Department of Financial Services (DFS) has issued guidance, in the form of an industry letter, on addressing cybersecurity risks arising from artificial intelligence (AI) under its cybersecurity regulation, 23...more

Arnall Golden Gregory LLP

Preparing for the Digital Operational Resilience Act (“DORA”): Key Steps for Payments and Fintech Clients

Arnall Golden Gregory LLP on

The Digital Operational Resilience Act (“DORA”), an EU regulation designed to bolster the resilience of financial entities against Information and Communications Technology (“ICT”) risks, entered into force on January 16,...more

Hudson Cook, LLP

New York DFS Finalizes Amendments to Cybersecurity Regulations

Hudson Cook, LLP on

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

Eversheds Sutherland (US) LLP

New York Raises the Bar Again: Revised Cybersecurity Requirements for Financial Services Companies Finalized

Eversheds Sutherland (US) LLP on

On November 1, 2023, the New York Department of Financial Services (NY DFS) published its highly anticipated final amendments to its influential cybersecurity requirements for financial services companies (Part 500)....more

Hudson Cook, LLP

The FTC's Sweeping Changes to the Safeguards Rule - Time to Reexamine Your Information Security Program

Hudson Cook, LLP on

On October 27th, the Federal Trade Commission (“FTC”) finalized its long-awaited updates to the Safeguards Rule. The Safeguards Rule implements provisions of the Gramm-Leach-Bliley Act requiring the safeguarding of customer...more

Oberheiden P.C.

5 Keys to Performing A GLBA Audit

Oberheiden P.C. on

Purpose and Background of the GLBA - The Gramm-Leach-Bliley Act (“GLBA”), also known as the Financial Services Modernization Act of 1999, is a federal statute enacted by Congress in 1999 that requires financial...more

White & Case LLP

Cybersecurity Enforcement: New York Department of Financial Services issues first penalty under Cybersecurity Regulation

White & Case LLP on

Consistent with its increasing activity in the cybersecurity enforcement space, in March 2021, the NYDFS issued its first penalty under the Cybersecurity Regulation. This client alert explores the settlement and offers...more

Hinshaw & Culbertson - Insights for Insurers

New NYS DFS Cyber Insurance Risk Framework Warns Against Ransom Payments, Includes Notice to Law Enforcement Policy Requirement

Hinshaw & Culbertson - Insights for Insurers on

The New York State Department of Financial Services (DFS) has issued guidance imposing rigorous cyber risk measurement and management practices on NY-regulated property/casualty insurers that write cyber insurance. The...more

Morrison & Foerster LLP - Social Media

N.Y.’s New Cybersecurity Regulations: What Financial Services Companies Need to Know

Morrison & Foerster LLP - Social Media on

With corporate data security breaches on the rise, the New York State Department of Financial Services (NYDFS) has adopted rules requiring financial institutions to take certain measures to safeguard their data and inform...more

Stinson - Corporate & Securities Law Blog

The New York State Department of Financial Services Proposes Robust Cybersecurity Rules

Stinson - Corporate & Securities Law Blog on

On September 13, 2016, the New York State Department of Financial Services (DFS) proposed new rules that would require certain “Covered Entities” to establish and implement cybersecurity programs designed to protect nonpublic...more

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