News & Analysis as of May 5, 2025

Cybersecurity › Compliance Dates › Risk Management

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

Additional Cybersecurity Requirements of NYDFS Part 500 Take Effect

Alston & Bird on 5/5/2025

On May 1, 2025, additional enhanced cybersecurity controls required by the Second Amendment to the New York Department of Financial Services (NYDFS) Cybersecurity Regulation (23 NYCRR Part 500) (the “Second Amendment”) take...more

Effective Dates Draw Near for Insurance Industry to Comply with NYDFS's Cybersecurity Rules

Husch Blackwell LLP on 4/25/2025

As part of a multiyear rollout, the New York Department of Financial Services (NYDFS) has established May 1, 2025, and November 1, 2025, as effective dates for certain amendments to its cybersecurity regulations. These...more

EU Updates its Product Liability Regime: Important Considerations for Providers of AI Systems and Software

Goodwin on 2/18/2025

The European Union has significantly overhauled its product liability regime with a new directive concerning liability for defective products (Product Liability Directive). EU member states have until December 9, 2026, to...more

The EU’s Digital Operational Resilience Act 2022/2554 (DORA)

BCLP on 9/23/2024

Long IT sub-contracting chains can make it hard for financial institutions to understand the vulnerabilities in their IT estate and the location of key functions (where these may be located in entities who do not have a...more

SEC Corporation Finance Director Voluntarily Weighs in on Cybersecurity Incident Disclosures

Holland & Knight LLP on 5/23/2024

The U.S. Securities and Exchange Commission's (SEC) Division of Corporation Finance Director Erik Gerding released a statement on May 21, 2024, addressing Disclosure of Cybersecurity Incidents Determined to be Material and...more

NYDFS Finalizes Amendments to Cybersecurity Regulations

WilmerHale on 11/29/2023

On November 1, 2023, New York Department of Financial Services (NYDFS or the “Department”) released the finalized revisions (the “Second Amendment”) to 23 NYCRR Part 500 (Part 500) – the most significant modifications to Part...more

Addressing the SEC’s New Cybersecurity Risk Management, Strategy, Governance and Incident Disclosure Requirements

BakerHostetler on 10/27/2023

In July 2023, the SEC adopted new cybersecurity rules for the stated purpose of enhancing and standardizing disclosures regarding cybersecurity risk management, strategy, governance and incidents by public companies. The...more

Next Steps for Companies Ahead of December Deadline for SEC Cybersecurity Disclosures

Parker Poe Adams & Bernstein LLP on 9/29/2023

In less than three months, public companies and certain foreign private companies will have to take additional steps after cybersecurity breaches: deciding whether an incident meets the materiality threshold that requires...more

New SEC Cybersecurity Rules Require Mandatory Disclosure

Dorsey & Whitney LLP on 9/8/2023

On July 26, 2023, the Securities and Exchange Commission adopted new rules imposing disclosure requirements regarding cybersecurity risk management, strategy, governance and incidents. The new rules, which became effective...more

Key Actions for Public Companies under the SEC's New Cybersecurity Rules

Venable LLP on 9/5/2023

On July 26, 2023, the Securities Exchange Commission (SEC) adopted a final rule intended to augment and standardize disclosures regarding cybersecurity risk management, governance, and incident reporting. The new rule imposes...more

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