JONES DAY TALKS®: Financial Regulators and Asset Managers Warm to Acknowledging Climate Risks
The New York Department of Financial Services (DFS) has been increasingly active in enforcing the rigorous cybersecurity requirements imposed on “covered entities” under 11 NYCRR Part 500 (Reg 500). DFS has published an...more
Yesterday, New York’s Department of Financial Services (“DFS”) announced another enforcement action under the state’s Cybersecurity Requirements for Financial Services Companies, 23 N.Y.C.R.R. Part 500 (“Reg 500”). According...more
When we published our last climate change update earlier this month, it was probably a safe bet that the last few weeks of the month would continue to be active. That was an understatement. Before summarizing the New York...more
Jones Day partners Lanier Saperstein and Jay Tambe talk about The New York Department of Financial Services' recent guidance on Climate Change and Financial Risks, and BlackRock CEO Larry Fink's annual January letter to...more
Having sent a similar letter to New York's domestic and foreign insurance companies, the New York State Department of Financial Services (DFS) issued a letter on October 29, 2020 explicitly calling on its regulated financial...more
In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more
On March 10, 2020, the New York Department of Financial Services issued Insurance Circular Letter No. 5, titled “Guidance to Department of Financial Services Regulated Insurance Entities and Request for Assurance Relating to...more
The New York Department of Financial Services (DFS) recently issued Circular No. 5 that requires every regulated insurance entity to submit its plans to address the operational risk and identify, monitor and manage the...more
This is the second installment in our interview with Steven Grossman, VP Strategy & Enablement at Bay Dynamics, the cyber risk analytics company. Here, Steven discusses the importance of aligning an institution’s risk...more
Both federal and state officials recently proposed new regulations aimed at the financial sector in an effort to promote protection against high-impact technology failures and cyberattacks...more
New York's Department of Financial Services (DFS) has a proposed broad-reaching cybersecurity regulation that would impose new corporate governance, risk management and vendor management requirements on banks and other...more
The New York State Department of Financial Services (the “Department”) recently released a “Report on Cyber Security in the Insurance Sector” (the “Report”). The Report was released on February 8, 2015, just four days after...more
Based on industry comments, the New York Department of Financial Services (the “NYDFS”) is strongly considering making a number of changes to its proposed Regulation 203, concerning Enterprise Risk Management (“ERM”) and Own...more