News & Analysis as of

Risk Management Third-Party Service Provider Cybersecurity

A&O Shearman

EC publishes draft delegated regulation on subcontracting RTS under DORA

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On March 24 2025, the European Commission (EC) adopted the final draft Delegated Regulation setting out Regulatory Technical Standards (RTS) for subcontracting ICT services supporting critical or important functions under the...more

K&L Gates LLP

Europe: National Regulators Announce Digital Operational Resilience Act Reporting Windows

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EU national supervisory authorities will collect the Register of Information (ROI) pursuant to the EU’s Digital Operational Resilience Act (DORA) from in scope financial entities in April 2025, with the reference date set as...more

WilmerHale

FINRA’s 2025 Annual Regulatory Oversight Report: Focus on AI, Other Emerging Risk Areas, and Best Practices

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On January 28, 2025, FINRA published its Annual Regulatory Oversight Report (the Report). The Report highlights emerging risk areas and recent developments, common compliance deficiencies, and best practices for member firms....more

Hogan Lovells

The European Commission rejects draft Regulatory Technical Standards on subcontracting under the Digital Operational Resilience...

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What has happened: On 21 January 2025, the European Commission sent a letter to the Chair of the Joint Committee of the ESAs with its decision to reject the draft Regulatory Technical Standards (“RTS”) on subcontracting...more

Ward and Smith, P.A.

Data Privacy Insights Part 2: The Most Common Types of Data Breaches Businesses Face

Ward and Smith, P.A. on

As part of Data Privacy Awareness Week, Ward and Smith is spotlighting the most common types of data breaches that businesses encounter. In Part 1, we explored the industries most vulnerable to cyberattacks, highlighting the...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

The EU’s Digital Operational Resilience Act Comes Into Effect

The European Union’s Digital Operational Resilience Act (DORA) came into effect on January 17, 2025. DORA aims to harmonise rules concerning the provision of information and communication technology (ICT) services to...more

Troutman Pepper Locke

6 Tips for Cos. Facing Service Provider Cyber Incidents

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It is no secret that ransomware dominates headlines, and cybersecurity incidents have become part of our everyday language. However, the criminal “business model” behind ransomware keeps evolving. Originally published in...more

Katten Muchin Rosenman LLP

DORA Takes Effect: Key Next Steps for Firms

After a two-year implementation period, the EU Digital Operational Resilience Act (DORA) takes effect on 17 January 2025. DORA is part of the EU’s Digital Finance Package and aims to strengthen the financial sector’s...more

Hogan Lovells

DORA – One week to go

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The EU Digital Operational Resilience Act (“DORA”) is due to apply from 17 January 2025. It is designed to ensure regulated financial entities can withstand and recover from technology issues such as cyber events and...more

Winstead PC

Top Data Privacy & Cybersecurity Considerations in 2025 for RIAs

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Compliance and Regulations - Ensure adherence to SEC regulations with appropriate privacy and cybersecurity policies tailored to SEC requirements....more

Jackson Lewis P.C.

Tips for Vacation Rental, Property Mgmt. Businesses Facing Vendor Cybersecurity Risk

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No organization can eliminate data breach risks altogether, regardless of industry, size, or even if the organization has taken significant steps to safeguard their systems and train employees to avoid phishing attacks....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

New York State Department of Financial Services Releases Guidance on Combating Cybersecurity Risks Associated With AI

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

Husch Blackwell LLP

NYDFS Issues Guidance to Mitigate AI Cybersecurity Risks

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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

Goodwin

NYDFS Publishes Guidance on AI-Related Cybersecurity Risks

Goodwin on

On October 16, 2024, the New York State Department of Financial Services (NYDFS or the “Department”) published an industry letter (the “Guidance”) regarding the increased reliance on artificial intelligence (AI) and the...more

Mayer Brown

New York State Department of Financial Services Issues Industry Letter on Cybersecurity Risks Arising from Artificial Intelligence

Mayer Brown on

BACKGROUND - On October 16, 2024, the New York State Department of Financial Services (DFS) issued an industry letter, Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks,...more

Cozen O'Connor

NYDFS Issues Guidance on Cybersecurity Risks Arising from Artificial Intelligence

Cozen O'Connor on

On October 16, 2024, the New York Department of Financial Services (NYDFS) issued an Industry Letter that discusses the cybersecurity risks associated with the use of artificial intelligence (AI) and outlines strategies to...more

Mayer Brown

Navigating Facilities Management Outsourcing in a Post-COVID World

Mayer Brown on

The COVID-19 pandemic has significantly reshaped the facilities management (FM) outsourcing landscape. Companies have transitioned from fully office-based work to home-based work, and now to hybrid models, prompting a...more

Mayer Brown Free Writings + Perspectives

FINRA Highlights Increasing Cybersecurity Risks at Third-Party Providers

The Cyber and Analytics Unit within the Member Supervision program of the Financial Industry Regulatory Authority, Inc. (“FINRA”) recently published a cybersecurity advisory regarding increasing cybersecurity risks at...more

Baker Donelson

Best Practices for Protecting Operations from Vendor's Cyber Incidents

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In the aftermath of a vendor's hack that crippled an industry, ensure your business is up to date on best practices for mitigating the risks of third-party cyber incidents. Many businesses struggle to adequately consider the...more

BCLP

The EU’s Digital Operational Resilience Act 2022/2554 (DORA)

BCLP on

Long IT sub-contracting chains can make it hard for financial institutions to understand the vulnerabilities in their IT estate and the location of key functions (where these may be located in entities who do not have a...more

Mitratech Holdings, Inc

Compliance Down Under: Understanding Australian Regulation CPS 230

The Australian Prudential Regulation Authority (APRA) released Prudential Standard CPS 230 in March 2017. At a glance, the regulation aims to strengthen the cybersecurity resilience and operational risk management of the...more

Guidepost Solutions LLC

The SEC has new Cybersecurity Rules. Are you prepared and ready?

On July 26, 2023, the Securities and Exchange Commission (SEC) implemented new cybersecurity rules to require disclosure of material cybersecurity incidents within four business days, with limited exceptions.  Additionally,...more

Eversheds Sutherland (US) LLP

SEC adopts new rules to expand public company disclosure relating to cybersecurity by year end

On July 26, 2023, the US Securities and Exchange Commission (SEC) released final rules requiring disclosure by public companies of material cybersecurity incidents and policies and procedures related to cybersecurity risk...more

Epiq

Deepfakes Bring Deep Risk

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Most people know what a deepfake is but have not put much thought into how it could affect business operations. Deepfakes are videos, pictures, or audio that have been convincingly manipulated to misrepresent a person saying...more

McDermott Will & Emery

[Webinar] PCI DSS 4.0: Third-Party Service Providers and Risk Management - June 7th, 12:00 pm - 1:00 pm EDT

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Join members of McDermott’s Global Privacy & Cybersecurity team and Alan Gutierrez-Arana of Mazars for the next installment in our PCI DSS 4.0 series. PCI DSS 4.0 brings major changes to payments with an increased focus on...more

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