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On October 16, 2024, the New York State Department of Financial Services (NYDFS) released guidance highlighting the cybersecurity risks associated with artificial intelligence (AI) and how covered entities regulated by NYDFS...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
The New York State Department of Financial Services recently announced new guidance addressing ransomware attacks, and highlighting cybersecurity measures to significantly reduce the risk of an attack. The guidance comes as...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
The New York State Department of Financial Services recently issued recommendations to financial institutions in the aftermath of the SolarWinds cyberattack. In that attack, hackers inserted malware into SolarWinds software...more
Selected Developments in U.S. Law - NYDFS Issues Report on the SolarWinds Attack and Covered Entities’ Responses Following the SolarWinds cyber espionage attack and the resulting focus on supply chain risk, the New York...more
On April 27, 2021, the New York State Department of Financial Services (“DFS” or the “Department”) released a report regarding its investigation into the response by DFS covered entities to the SolarWinds supply chain attack....more
Following the SolarWinds cyber espionage attack (the “Attack”) and the resulting focus on supply chain risk, the New York Department of Financial Services (NYDFS) has issued a report detailing the impact on and responses by...more
The cyber insurance market size is currently valued in the billions, and this does not include insurance policies that do not explicitly mention cyber incidents but may nevertheless cover them. With this in mind,...more
Last week, in wake of anticipated losses from COVID-19 (coronavirus), the New York State Department of Financial Services (NYDFS) issued instructions mandating all property/casualty insurers "to provide certain information...more
In light of anticipated losses arising from the outbreak of COVID-19, the coronavirus, New York State's Department of Financial Services (NYDFS) has instructed property/casualty insurers to prepare explanations for their...more
New Capital Market Offerings and Solutions Launch, Courting Institutional Investors - Last week, the Marco Polo network, a blockchain trade finance platform with a strong presence in Europe, Asia and the Middle East,...more
Fed vice chair Richard Clarida, in comments to the Economic Club of NY on Thursday, hoped to calm turbulent markets by noting that central bank officials would indeed consider lower-than-desired inflation along with “global...more