On November 1, 2023, the New York State Department of Financial Services (“DFS”) amended its cybersecurity regulations to institute additional standards and controls aimed at securing sensitive data among the financial...more
11/14/2023
/ Chief Information Security Officer (CISO) ,
Compliance ,
Corporate Governance ,
Cybersecurity ,
Data Security ,
Financial Institutions ,
Financial Services Industry ,
NYDFS ,
Popular ,
Risk Management ,
Sensitive Personal Information
The incoming chief of New York’s top financial services regulator called cybersecurity “the number one threat facing all industries and governments globally” during a speech on Friday, April 12, 2019 at the Association of the...more
For thousands of financial institutions and insurance companies covered by New York DFS’s sweeping data security regulation, the countdown to yet another deadline has begun. Those companies will remember last August, when...more
On February 16, 2017, the New York Department of Financial Services (“DFS”) issued the final version of its cybersecurity regulation. The regulation, which has seen several iterations since it was first proposed in September...more
Over the last few months, the New York Department of Financial Services (“DFS”) cybersecurity regulation has undergone multiple revisions. But late last week, DFS issued its final regulation, which will go into effect on...more
2/21/2017
/ Banks ,
Chief Information Security Officer (CISO) ,
Corporate Governance ,
Cybersecurity ,
Department of Financial Services ,
Final Rules ,
Financial Institutions ,
Insurance Industry ,
Notification Requirements ,
NYDFS ,
Third-Party Service Provider
New York’s Department of Financial Services issued its final Cybersecurity Regulation last night with an effective date of March 1, 2017. ...more
Last year was the first that national banks and federal savings associations subject to supervision by the Office of the Comptroller of the Currency (“OCC”) were armed with a sense of the agency’s regulatory expectations when...more
1/28/2017
/ Banks ,
Cybersecurity ,
Data Security ,
Department of Financial Services ,
FDIC ,
Federal Bank Regulatory Agencies ,
Federal Reserve ,
Financial Institutions ,
OCC ,
Risk Assessment ,
Risk Mitigation
This is our final installment in a three-part series examining the New York State Department of Financial Services (“DFS”) new cybersecurity regulation. In this installment, we provide an overview of the regulation’s impact...more
This is our second installment in a three-part series examining the New York State Department of Financial Services (“DFS”) new cybersecurity regulation. In this installment, we provide an overview of the regulation’s impact...more
This is the first installment in a three-part series examining the New York State Department of Financial Services (“DFS”) new cybersecurity regulation. The Patterson Belknap Privacy and Data Security Team has studied the...more
Not surprisingly, cybersecurity remains a top examination priority for the Comptroller of the Currency (“OCC”). And that means national banks and federal savings associations – and their leadership teams – should be prepared...more