News & Analysis as of May 15, 2025

New York

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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... more +

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 -

NY Settles With Insurer on Data Breach Rooted in Security Deficiencies

Cozen O'Connor on 3/28/2025

New York AG Letitia James settled with Root Insurance Company to resolve allegations that the company’s data security deficiencies led to a 2021 data breach involving 72,000 people, in violation of state consumer protection...more

Lessons from PayPal’s $2 Million Cybersecurity Settlement with the New York State Department of Financial Services

Faegre Drinker Biddle & Reath LLP on 2/14/2025

On January 23, 2025, PayPal settled an enforcement action brought by the New York State Department of Financial Services (NY DFS) for failing to comply with cybersecurity regulations required for financial services businesses...more

Oh No, Canada! Takeaways from the Indictment of a Canadian National Allegedly Responsible for $65 Million DeFi Cryptocurrency...

Faegre Drinker Biddle & Reath LLP on 2/11/2025

On February 3, 2025, the U.S. Attorney’s Office for the Eastern District of New York (EDNY) unsealed an indictment against Andean Medjedovic, a 22-year-old Canadian national, for allegedly stealing approximately $65 million...more

New York Department of Financial Services Levies $1.2 Million Fine on Cryptocurrency Platform for Violations of Cybersecurity...

Faegre Drinker Biddle & Reath LLP on 6/21/2023

A recent consent order between the New York State Department of Financial Services (“NYDFS”) and cryptocurrency trading platform, bitFlyer USA (“bitFlyer”), shows that the NYDFS continues to utilize an aggressive enforcement...more

NYAG Issues Fine Against Law Firm for Data Breach

Robinson+Cole Data Privacy + Security Insider on 3/30/2023

New York Attorney General Letitia James announced on March 27, 2023 that she had levied a fine against law firm Heidell, Pittoni, Murphy & Bach LLP for failing to secure personal and health information of clients exposing the...more

Financial Markets and Funds Quick Take | Issue 8

Katten Muchin Rosenman LLP on 11/14/2022

SEC Advertising Rules – Client Resource Center - November 4 was the compliance date for the new rule governing advertising and solicitation activities by investment advisers. The new rule substantially revises decades old...more

NYAG’s Warning to Crypto Businesses Muddies Regulatory Waters; Compliance Requirements Remain Elusive

Sheppard Mullin Richter & Hampton LLP on 11/30/2021

New York’s chief law enforcement agency recently squandered an opportunity to bring much needed guidance to the digital assets space. On October 18, 2021, the Office of New York Attorney General, Letitia James (“NYAG”),...more

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

Faegre Drinker Biddle & Reath LLP on 4/27/2021

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

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Cybersecurity › Enforcement Actions › New York

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