News & Analysis as of

Notice Requirements NYDFS

Clark Hill PLC

Right To Know - August 2024, Vol. 20

Clark Hill PLC on

Cyber, Privacy, and Technology Report - Welcome to your monthly rundown of all things cyber, privacy, and technology, where we highlight all the happenings you may have missed....more

Alston & Bird

NYDFS Finalizes Second Amendment to Its Cybersecurity Regulation

Alston & Bird on

Our Privacy, Cyber & Data Strategy and Privacy & Cybersecurity Litigation teams examine the New York Department of Financial Services’ finalized Second Amendment to its Cybersecurity Regulation....more

BakerHostetler

NYDFS Significantly Amends Cybersecurity Regulation

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The New York State Department of Financial Services (NYDFS) adopted comprehensive amendments to its cybersecurity regulation on Nov. 1, 2023. The amended regulation, including the notification provisions of §500.17, goes into...more

Katten Muchin Rosenman LLP

Financial Institutions Require More Oversight of Cybsersecurity Risk under NYDFS

The New York Department of Financial Services (NYDFS) has published a proposal to amend its cybersecurity rules, which will require regulated companies to notify the NYDFS of a third-party cybersecurity incident within 72...more

Faegre Drinker Biddle & Reath LLP

NYDFS Releases Pre-Proposed Second Amendment to its Cybersecurity Regulations, 23 NYCRR 500

On July 29, 2022, the New York Department of Financial Services (NYDFS) published the pre-proposed second amendment to its Cybersecurity Regulations, 23 NYCRR 500 (Part 500), that if adopted, would likely require numerous...more

White & Case LLP

New York State Department of Financial Services Imposes $30 Million Fine in First Cryptocurrency Enforcement Action

White & Case LLP on

On August 2, in its first ever cryptocurrency enforcement action, the New York State Department of Financial Services ("NYDFS") announced it had imposed a $30 million fine on Robinhood Crypto, LLC ("RHC") for failures in its...more

BakerHostetler

NYDFS Proposed Amendments to Its Cybersecurity Rules

BakerHostetler on

​​​​​​​On July 29, the New York Department of Financial Services (NYDFS) released Draft Amendments to its Part 500 Cybersecurity Rules that include a number of significant amendments to the rules, including notification...more

Holland & Knight LLP

The Impact of Cybersecurity Regulations on the Financial Services Industry in 2022

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Following the SolarWinds and the Colonial Pipeline cyberattacks, the Biden Administration emphasized a shift toward mandatory cybersecurity requirements. Throughout 2021, government agencies issued new cybersecurity guidance,...more

Proskauer Rose LLP

New York’s Broad Automatic Renewal Law (and the Accompanying Compliance Issues) Coming in February 2021

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New York has enacted a new law, effective February 9, 2021, regulating automatic renewal and some “free trial” type agreements. While some organizations may have already taken steps to be in compliance with industry...more

King & Spalding

Energy Newsletter - April 2020

King & Spalding on

Developing Contingency Plans: The NYDFS Mandate on Licensed Virtual Currency Businesses - The events surrounding COVID-19 have increased the use of fintech products, both out of necessity and convenience. Shelter-in-place...more

Mintz - Privacy & Cybersecurity Viewpoints

New York Dept of Financial Services (NYDFS) Extends Cybersecurity Compliance Deadline

The NYDFS has announced that it has extended the deadline for compliance with certain cybersecurity requirements due to the coronavirus emergency. The announcement from the Superintendent of Financial Services of the State...more

Hudson Cook, LLP

New York Student Loan Servicers Law: A Deeper Dive

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The May 2019 issue of Insights included discussion of a growing trend to regulate student loan servicers. Currently, there are a handful of states that impose requirements specifically on such parties. However, the ranks of...more

Patterson Belknap Webb & Tyler LLP

Part Two: In-Depth Look at New York’s New Data Security Bill

Second in a two-part series. Last week, in the first part of this series, we examined several key aspects of New York’s proposed data security law, Stop Hacks and Improve Data Security Act or SHIELD Act. In our second and...more

Snell & Wilmer

New Cybersecurity Requirements for New York Financial Companies

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The New York Department of Financial Services has new cybersecurity regulations “designed to promote the protection of customer information as well as the information technology systems of regulated entities [financial...more

Hogan Lovells

The “Final Final” is Here: NYDFS Cybersecurity Regulations

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As Hogan Lovells previously reported, the New York State Department of Financial Services (NYDFS) has launched a significant initiative to impose detailed cybersecurity requirements on covered financial institutions. On...more

Carlton Fields

NY DFS Cybersecurity Regulations Take Effect March 1, 2017

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We previously reported on the New York Department of Financial Services’ proposed cybersecurity regulations. During the public comment period, the DFS received over 150 comments. In response, the DFS announced on December 28,...more

Carlton Fields

NY DFS Proposed Cybersecurity Regulations Revised and Implementation Delayed

Carlton Fields on

We previously reported on the New York Department of Financial Services’ proposed cybersecurity regulations. During the public comment period, the DFS received over 150 comments. In response, the DFS announced on December 28,...more

Morgan Lewis

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

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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

Morgan Lewis

The Conference of State Bank Supervisors Adopts Model Regulatory Framework for Virtual-Currency Businesses

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Addressing regulatory concerns pertaining to consumer protection, market stability, and law enforcement, the Framework expands on the CSBS draft framework released in December 2014. The Conference of State Bank...more

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