On October 16, 2024, the New York Department of Financial Services (NYDFS) issued an industry letter entitled “Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks” in response to...more
11/4/2024
/ Artificial Intelligence ,
Covered Entities ,
Cyber Attacks ,
Cybersecurity ,
Data Management ,
Financial Services Industry ,
NYDFS ,
Risk Assessment ,
Risk Management ,
Social Engineering ,
Third-Party Risk
The Department of Justice (DOJ) recently raised the stakes for businesses under investigation who use artificial intelligence (AI). The Evaluation of Corporate Compliance Program (ECCP) outlines the criteria to be considered...more
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
On July 26, 2023, the U.S. Securities and Exchange Commission adopted enhanced disclosure requirements regarding cybersecurity risk management, strategy, governance and incident reporting for public companies. The final rules...more
The New York Department of Financial Services (“NYDFS”) released a “revised proposed second amendment” on June 28 that makes further changes to its Cybersecurity Regulation (“23 NYCRR Part 500”). Part 500 was first enacted in...more
On March 1, 2017, New York’s Department of Financial Services (“NYDFS”) implemented a comprehensive cybersecurity regulation aimed at financial institutions (the “Cybersecurity Regulation”)....more
Throughout 2022, we continue to see regulators placing an emphasis on the importance of protecting and securing information, in particular consumer personal information, at both the federal and state levels.
...more
10/6/2022
/ Breach Notification Rule ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Employee Training ,
Encryption ,
Health Insurance Portability and Accountability Act (HIPAA) ,
NYDFS ,
Opt-Outs ,
Popular ,
Private Right of Action ,
Proposed Amendments ,
Risk Assessment ,
Securities and Exchange Commission (SEC) ,
State Privacy Laws
Over the last two years, many states have taken cues from California and the EU by adopting sweeping privacy laws. These laws, passed in Virginia, Colorado, Connecticut and Utah, as well as updates to the already enacted...more