News & Analysis as of

NYDFS Cybersecurity Enforcement

White & Case LLP

NYDFS Releases Artificial Intelligence Cybersecurity Guidance For Covered Entities

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On October 16, 2024, the New York State Department of Financial Services (the "DFS"), under its Cybersecurity Regulation—23 NYCRR Part 500—issued a memorandum providing guidance on the risks posed by artificial intelligence...more

A&O Shearman

Cyber and AI: NYDFS has entered the chat

A&O Shearman on

On October 16, 2024, the New York Department of Financial Services (“NYDFS”) released an Industry Letter—entitled Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks (the “Letter”)....more

Arnall Golden Gregory LLP

Q&A With Allison Raley: Defending Against Government Investigations

Q: What are the primary areas of focus in your practice related to government investigations? A: My practice primarily focuses on defense against enforcement actions brought by regulatory bodies such as the Office of Foreign...more

Hudson Cook, LLP

New York DFS Finalizes Amendments to Cybersecurity Regulations

Hudson Cook, LLP on

On November 1, 2023 the New York Department of Financial Services ("DFS") released amended cybersecurity regulations ("Regulations"). These changes will impose additional controls, demand more frequent risk assessments, and...more

Dechert LLP

Dechert Cyber Bits - Issue 37

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California Court Pauses Enforcement of Most Recent CCPA Regulations until March 2024 - On June 30, 2023, the Superior Court of California, County of Sacramento (California Chamber Of Commerce v. California Privacy...more

Faegre Drinker Biddle & Reath LLP

Cybersecurity Enforcement Update: New York Department of Financial Services Announces Amended Cybersecurity Regulations and Latest...

Recent enforcement actions and announcements show that state and federal regulators are continuing to focus intensely on cybersecurity and data protection. Notably, the New York Department of Financial Services (“NYDFS”)...more

Harris Beach Murtha PLLC

Recent New York Cybersecurity Enforcement Provides Latest Reason for Companies to be Proactive

New York’s Department of Financial Services signaled once again its intent to strongly enforce the state’s Cybersecurity Regulation by finding OneMain Financial Group violated the law in several ways and imposing a $4.25...more

Pillsbury Winthrop Shaw Pittman LLP

What to Expect from the New York Department of Financial Services in 2023

In 2023, the NYDFS is poised to finalize several significant new regulations and will likely continue its aggressive cybersecurity, anti-money laundering (AML) and consumer protection enforcement. The New York Department of...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

King & Spalding

New York Department of Financial Services Proposes New Cybersecurity Rules

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On July 29, 2022, the New York Department of Financial Services (“NYDFS”) released Draft Amendments to its Part 500 Cybersecurity Rules, which propose substantial new obligations for the cybersecurity programs of companies...more

Dorsey & Whitney LLP

New York Department of Financial Services Signals Aggressive Enforcement Stance

Dorsey & Whitney LLP on

State Notifications Deemed to Trigger DFS Reporting of Non-material Breaches - Two successive Consent Orders have demonstrated the seriousness of non-compliance with New York’s Department of Financial Services financial...more

Eversheds Sutherland (US) LLP

No rest for the weary: cybersecurity and privacy enforcement actions heat up

Hopes that privacy regulators and litigants would grant a reprieve to businesses during the COVID-19 pandemic may prove ill-founded. On July 21, 2020, the New York Department of Financial Services announced its first...more

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