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The increased use of artificial intelligence (AI) in the banking, insurance, and financial services industries has led the New York State Department of Financial Services (NYDFS or Department) to publish an Industry Letter on...more
Last month, the New York State Department of Financial Services (“DFS”), which has broad regulatory powers over financial services-related entities and insurance companies operating in New York State, published guidance...more
On October 16, 2024, the New York Department of Financial Services (NYDFS) issued an industry letter entitled “Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks” in response to...more
Keypoint: The New York Department of Financial Services (NYDFS) circulated an industry letter offering guidance to NYDFS “Covered Entities” for assessing and managing AI-related cybersecurity risks, including threats...more
On October 16, the New York State Department of Financial Services (NY DFS) issued an industry letter to entities regulated by NY DFS (covered entities) providing guidance addressing the cybersecurity risks associated with...more
The New York Department of Financial Services (NYDFS) issued new guidance (the Guidance) on October 16, 2024, to help state-regulated financial institutions mitigate the myriads of cybersecurity risks posed by artificial...more
On October 16, NYDFS Superintendent Adrienne A. Harris issued an industry letter to assist regulated entities in meeting their existing obligations regarding cybersecurity risks arising from AI. The letter, directed at...more
The Department of Labor recently issued cybersecurity guidance to retirement plans. The department’s Employee Benefits Security Administration (EBSA) issued guidance in three areas: (1) hiring and working with vendors and...more
Time is running out. The effective date of New York’s cybersecurity law mandating that organizations implement an information security program to protect “private information” of New York State residents, including employee...more