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As part of a multiyear rollout, the New York Department of Financial Services (NYDFS) has established May 1, 2025, and November 1, 2025, as effective dates for certain amendments to its cybersecurity regulations. These...more
On April 3, 2025, the New York State Department of Financial Services (“DFS”) issued reminders about upcoming implementation and reporting deadlines related to its cybersecurity regulations. Upcoming deadlines require...more
As of November 1, 2024, financial services companies regulated by the New York Department of Financial Services Cybersecurity Regulation face new requirements relating to cybersecurity governance, encryption, and incident...more
By press release on May 25, 2023, The New York Department of Financial Services (“DFS”) announced a Consent Order with OneMain Financial Group LLC (“OneMain”) for failing to comply with the DFS’s Cybersecurity Regulation (23...more
The New York and Pennsylvania AGs settlement with Herff Jones from late last year provides guidance to businesses about expected security measures as we enter into 2023. The case arose after Herff Jones, producer and seller...more
The New York Department of Financial Services (NYDFS) continues to be a major player in data security enforcement. On Oct. 18, 2022, NYDFS announced that it had entered into a consent order with EyeMed Vision Care LLC...more
Kentucky became the latest state to adopt the NAIC insurance data security model law with Governor Andy Beshear’s signing of House Bill 474. The new law goes into effect Jan. 1, 2023, and gives covered licensees one or two...more
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
This client alert will briefly outline key upcoming deadlines under the New York State Department of Financial Services (DFS) Cybersecurity Regulation (the “Regulation”). These include annual filing deadlines coming up in...more
Cybersecurity has in recent years become an integral component of a board’s role in risk oversight, but directors often find themselves in unfamiliar territory when it comes to formulating policies and oversight processes...more
With corporate data security breaches on the rise, the New York State Department of Financial Services (NYDFS) has adopted rules requiring financial institutions to take certain measures to safeguard their data and inform...more
On June 30, 2016, the New York Department of Financial Services (DFS) adopted a new anti-terrorism and anti-money laundering (AML) regulation (Final Rule) that builds on federal anti-money laundering requirements to address...more