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NYDFS Cyber Attacks Regulatory Requirements

Paul Hastings LLP

NYDFS Urges Covered Entities to Review Security Practices Amidst World Turmoil

Paul Hastings LLP on

Citing “escalating global conflict,” the New York Department of Financial Services issued an alert on Monday, June 22, 2025, to its regulated covered entities, urging them to be vigilant against potential security threats,...more

Faegre Drinker Biddle & Reath LLP

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

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

Eversheds Sutherland (US) LLP

A Cybersecurity Storm and Winds of Change: NY DFS requires all New York financial institutions to report effects of SolarWinds...

The massive SolarWinds security breach, which affected not only the private sector, but federal, state and local governments, has caused some to question whether to share data with the government. On Friday, December 18, the...more

Ballard Spahr LLP

NYDFS Requires Filing of Preparedness Plans and Financial Risk Assessments Related to COVID-19

Ballard Spahr LLP on

In an Industry Letter, the New York State Department of Financial Services (NYDFS) is requesting assurance that New York State regulated institutions have preparedness plans in place to address operational risk, and it is...more

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