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NYDFS Industry Letters

Husch Blackwell LLP

NYDFS Warns Against the Threat of Accidentally Hiring North Korean Remote IT Workers

Husch Blackwell LLP on

Keypoint: The New York State Department of Financial Services (NYDFS) issued an industry letter outlining the threats posed to U.S. companies who hire remote technology workers linked to North Korea and may embezzle funds...more

Eversheds Sutherland (US) LLP

AI at the gate: NYDFS issues guidance on addressing new AI-driven cybersecurity risks under existing cybersecurity requirements

On October 16, 2024, the New York State Department of Financial Services (DFS) issued an industry letter providing guidance on how DFS-regulated entities (covered entities) should be evaluating and responding to artificial...more

Goodwin

SEC Issues No-Action Relief On Registered Funds’ Custody Of Loan Interests

Goodwin on

In this Issue. The U.S. Securities and Exchange Commission (SEC) was very active this week, having (i) issued no-action relief allowing registered funds to engage in self-custody of interests in loans that are originated,...more

White and Williams LLP

NYDFS Demands Regulated Entities Submit Preparedness and Financial Risks Management Plans Relating to COVID-19

White and Williams LLP on

In separate “Industry Letters” addressed to “The Chief Executive Officers or the Equivalents of New York State Regulated Institutions,” the New York Department of Financial Services (NYDFS) has mandated that regulated...more

White & Case LLP

NYDFS Requires LIBOR Transition Plans by Early February

White & Case LLP on

On December 23, 2019, the New York Department of Financial Services (NYDFS) issued an Industry Letter instructing each institution it regulates, including banks and licensed Fintechs, to make submissions describing the...more

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