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Covered Entities Cybersecurity Framework

Jenner & Block

Client Alert: New York Issues Significant Amendments to its Forward-Leaning Cyber Regulations

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In 2017, the New York Department of Financial Services (“NYDFS”) enacted a landmark regulation requiring financial services institutions such as banks and insurance companies in the state to meet substantial cybersecurity...more

Polsinelli

First NYDFS Cybersecurity Enforcement Action Arising From a Standard Examination Results in $1.5 Million Penalty

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On March 1, 2017, the New York State Department of Financial Services (“NYDFS”) Cybersecurity Requirements for Financial Services Companies (the “Cybersecurity Regulation”) became effective. Fast forward four years, where...more

White & Case LLP

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

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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

Stoel Rives - Global Privacy & Security Blog®

NIST Releases a Standard for Privacy

As states fill the legal void for consumer privacy rights,[1] a new federal standard has emerged to assist companies with their compliance efforts. The National Institute of Standards and Technology (“NIST”) Privacy Framework...more

Hogan Lovells

New Obligations Under the NYDFS Cybersecurity Regulation Come Online September 4

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The New York State Department of Financial Services (NYDFS) Cybersecurity Regulation (23 NYCRR Part 500) came into effect March 1, 2017...more

Robinson+Cole Data Privacy + Security Insider

New York Department of Financial Services Updates Cybersecurity Guidance: Coverage of Cybersecurity Requirements Addressed in 4...

On March 1, 2018, the New York Department of Financial Services (NYDFS) “cybersecurity regulations” (23 NYCRR Part 500) took effect, placing a number of cybersecurity requirements on banks, insurance companies, and other...more

Locke Lord LLP

The March 1 Deadline for NY DFS Cyber Compliance: One Week to Go!

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As we reported here, March 1, 2018 brings a new transition date, with a new set of compliance obligations for Covered Entities subject to the Cybersecurity Regulation of the New York Department of Financial Services. By...more

Locke Lord LLP

New York DFS Cybersecurity Regulation Update: Lots Left To Do

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Insurers and producers, banks, lenders and others licensed by the New York Department of Financial Services (DFS) have already had to comply with several of the requirements of the new DFS Cybersecurity Regulation, but for...more

Kilpatrick

Cyber Winter is Here, and Coming to Regulation: The New York Rules and the Future of Cybersecurity Regulation

Kilpatrick on

The State of New York’s response to two large cybersecurity breaches may fuel the transformation of the state regulation of corporate cybersecurity in the U.S. Unlike typical state data breach statutes which focus on...more

Orrick, Herrington & Sutcliffe LLP

New York DFS Cyber Rules Go Live: Here’s Your Roadmap

August 28, 2017 marks the end of the initial 180-day grace period for compliance under the New York Department of Financial Services’ “first-in-the-nation” cybersecurity regulations (the “Rules”). The initial regulations...more

Farrell Fritz, P.C.

New York’s New Cybersecurity Regulations and its Impact on your Sensitive Health Information

Farrell Fritz, P.C. on

Effective March 1, 2017, the New York State Department of Financial Services promulgated regulations to help protect against cybercriminals and their efforts to exploit sensitive electronic data. These cybersecurity...more

Ballard Spahr LLP

NYDFS Updates FAQs to Clarify Cybersecurity Regulations

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The New York Department of Financial Services (NYDFS) recently updated frequently asked questions (FAQs) about its cybersecurity regulations, 23 NYCRR 500, to address four new issues. NYDFS published its initial set of FAQs...more

Kramer Levin Naftalis & Frankel LLP

Funds Talk: June 2017 - Incident Response Plans Form an Essential Part of Cybersecurity Frameworks

Cybersecurity has increasingly moved into the spotlight in recent years, with regulators and financial firms alike clambering to keep pace with rapidly changing demands as threats continue to evolve....more

BakerHostetler

Finalized New York Department of Financial Services Cybersecurity Regulation to Take Effect March 1

BakerHostetler on

On February 16, 2017, the New York Department of Financial Services (NYDFS) announced the release of its finalized Cybersecurity Requirements for Financial Services Companies (“Cybersecurity Regulation”), which will take...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - New York Department of Financial Services Promulgates First-in-the-Nation State Cybersecurity Regulation - On February 16, 2017, the New York Department of Financial Institutions...more

Troutman Pepper

Mark Your Calendars: NY Cybersecurity Regulations to Go into Effect

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A covered entity will need to arrange for someone to perform the CISO function, dedicate resources to conduct periodic risk assessments, develop and implement policies and procedures, and retain appropriate personnel and...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Financial Industry Developments - Prohibition on Dealing or Investing in Industrial or Commercial Metals - On January 3, 2017, the Office of the Comptroller of the Currency (the "OCC") finalized a rule that...more

Cadwalader, Wickersham & Taft LLP

New York State Revises “First-In-Nation” Cybersecurity Rules

The New York Department of Financial Services (“DFS”) recently issued a revised version of the cybersecurity rules that it first announced in the fall of last year. The rules apply to a wide range of insurance, banking, and...more

Proskauer on Privacy

New York Department of Financial Services Revises Cybersecurity Proposal: Greater Flexibility and Delayed Compliance Deadlines

Proskauer on Privacy on

As we previously reported, in December 2016 the New York Department of Financial Services (the “DFS”) announced that it was revising its proposed regulation that would require banks, insurance companies and other financial...more

Stinson LLP

Emerging Trends Newsletter - Q3

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We are thrilled to bring you the third installment of Stinson Leonard Street's Emerging Trends newsletter. We are proud of the depth and breadth of experience and knowledge across our firm's 13 offices nationwide and are...more

Stinson - Corporate & Securities Law Blog

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

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

Morgan Lewis

NYDFS: “First-In-The-Nation” Cybersecurity Proposal

Morgan Lewis on

New “first-in-the-nation” cybersecurity rules in the pipeline for banks, insurers, and financial services companies regulated in New York could prove costly for companies, but will they improve cybersecurity?...more

Foley & Lardner LLP

Phase 2 of HIPAA Compliance Audits Now Underway

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The Office of Civil Rights (OCR) within the U.S. Department of Health and Human Services (DHHS) recently announced that it has initiated Phase 2 of its audit program to assess Covered Entities’ and Business Associate’s...more

BakerHostetler

New York Department of Financial Services Sets Forth Extensive Cybersecurity Regulatory Framework Proposal

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On November 9, 2015, the New York State Department of Financial Services (NYDFS) issued a letter to the members of the Financial and Banking Information Infrastructure Committee (FBIIC) detailing a new cybersecurity framework...more

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