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Bressler, Amery & Ross, P.C.

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

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

Constangy, Brooks, Smith & Prophete, LLP

New York amends Cybersecurity Regulation that applies to financial services industry

The New York Department of Financial Services recently amended its Cybersecurity Regulation. The revisions aim to strengthen cybersecurity and technology controls to address evolving threats to consumer data and ensure the...more

Wyrick Robbins Yates & Ponton LLP

Empire State of Security: New York DFS Finalizes Significant Amendment to Financial Services Cybersecurity Regulation

The New York State Department of Financial Services (“NYDFS”), which regulates financial services institutions including banks, insurance companies, and mortgage brokers, finalized an amendment to its Cybersecurity Regulation...more

Vinson & Elkins LLP

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

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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

Wiley Rein LLP

New York State Department of Financial Services Proposes Updates to Cybersecurity Regulation

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On July 29, 2022, the New York Department of Financial Services (DFS) released Draft Amendments to its Part 500 Cybersecurity Rules. These changes are open for a preliminary public comment until August 18, and then an...more

Sheppard Mullin Richter & Hampton LLP

NYDFS Issues Supply Chain Management Guidance

The New York State Department of Financial Services recently issued recommendations to financial institutions in the aftermath of the SolarWinds cyberattack. In that attack, hackers inserted malware into SolarWinds software...more

Faegre Drinker Biddle & Reath LLP

New York Department of Financial Services and National Securities Corporation Agree to $3 Million Settlement in Cybersecurity...

Earlier this month, the New York State Department of Financial Services (NYDFS) announced a settlement and consent order with National Securities Corporation (National Securities) for $3 million in connection with National...more

ArentFox Schiff

Municipal VRDO Class Action Survives Banks’ Request for Dismissal

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Financial institutions should work with outside counsel to ensure that their internal policies and external actions minimize conduct that may violate state and Federal laws and regulations, and incentivize employees to reward...more

Bradley Arant Boult Cummings LLP

New York DFS Turns Up the Heat with Climate Change Bulletin

The New York Department of Financial Services (DFS) has issued a bulletin on climate change and financial risks to the financial institutions and insurance companies it supervises regarding the impact of climate change on...more

King & Spalding

NY Department of Financial Services Statement on Climate Change: Implications for the Financial Sector

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State regulatory statements and guidelines for climate change readiness are emerging independent of federal government action. As climate change is not just about future impacts, financial institutions are compelled to...more

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