News & Analysis as of

Risk Management NYDFS Financial Regulatory Reform

Orrick, Herrington & Sutcliffe LLP

NYDFS seeks to hire displaced federal financial employees amidst Trump administration cuts

On March 11, the Superintendent of NYDFS, Adrienne Harris, reportedly announced her agency’s intention to hire federal financial agency employees affected by recent job cuts under the Trump administration. Harris highlighted...more

Jenner & Block

Client Alert: New York Issues Significant Amendments to its Forward-Leaning Cyber Regulations

Jenner & Block on

In 2017, the New York Department of Financial Services (“NYDFS”) enacted a landmark regulation requiring financial services institutions such as banks and insurance companies in the state to meet substantial cybersecurity...more

Hogan Lovells

Post-SVB events and implications: News and subsequent analysis 2023 banking crisis update

Hogan Lovells on

Federal and state financial regulators have released after-action reports regarding the recent closures of Silicon Valley Bank (SVB) and Signature Bank. Especially when viewed in the light of First Republic Bank’s failure...more

Morgan Lewis - Tech & Sourcing

NYDFS Publishes Proposed Amendment to Its Cybersecurity Rules for Financial Services Companies

The New York Department of Financial Services (NYDFS) published its proposed amendment to its 23 NYCRR Part 500 (Cybersecurity Rules) on November 9, 2022, following the release of the draft version on July 29, 2022....more

Bracewell LLP

New York Cyber Enforcement Steps Into the Breach

Bracewell LLP on

Last month, the New York State Department of Financial Services (NYDFS) proclaimed, “In an era of weakened federal government oversight, strong state regulation is essential in order to safeguard our markets, ensure strong...more

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