News & Analysis as of

Covered Entities Incident Response Plans Cybersecurity

Paul Hastings LLP

Reminder: More New York Department of Financial Services (NYDFS) Requirements Go Into Effect Next Month

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As we have previously written, late last year the New York Department of Financial Services (NYDFS) adopted long-awaited amendments to its Part 500 Cybersecurity Regulations (Part 500). These are some of the most significant...more

Latham & Watkins LLP

SEC Imposes New Cybersecurity Requirements on Broker-Dealers, Investment Companies, Registered Investment Advisers, and Transfer...

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Covered institutions will need to review their cybersecurity and incident response policies and procedures ahead of the applicable compliance deadline. ...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Amends Reg S-P To Strengthen Data Breach Response Requirements and Protect Investor Information

On May 16, 2024, the Securities and Exchange Commission (SEC) announced the adoption of amendments to Regulation S-P (Reg S-P), which broadly track the changes originally proposed in March 2023. The revised Reg S-P requires...more

Constangy, Brooks, Smith & Prophete, LLP

New York amends Cybersecurity Regulation that applies to financial services industry

The New York Department of Financial Services recently amended its Cybersecurity Regulation. The revisions aim to strengthen cybersecurity and technology controls to address evolving threats to consumer data and ensure the...more

WilmerHale

NYDFS Finalizes Amendments to Cybersecurity Regulations

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On November 1, 2023, New York Department of Financial Services (NYDFS or the “Department”) released the finalized revisions (the “Second Amendment”) to 23 NYCRR Part 500 (Part 500) – the most significant modifications to Part...more

Eversheds Sutherland (US) LLP

New York Raises the Bar Again: Revised Cybersecurity Requirements for Financial Services Companies Finalized

On November 1, 2023, the New York Department of Financial Services (NY DFS) published its highly anticipated final amendments to its influential cybersecurity requirements for financial services companies (Part 500)....more

Goodwin

SEC to Impose Significant New Privacy and Cybersecurity Rules for BDs, RIAs, TAs, and Mutual Funds

Goodwin on

The SEC continues its overhaul of cybersecurity, cyber incident reporting, and privacy controls and requirements for industry registrants, their services providers, and corporate America generally. On March 15, 2023, the SEC...more

Holland & Knight LLP

Changing of the Guard? SEC Proposes Significant Amendments to the Safeguards Rule

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The SEC continued its recent onslaught of proposed cybersecurity rules in mid-March with three new proposals covering a litany of entities, including investment advisers, broker-dealers, investment companies, clearing...more

Faegre Drinker Biddle & Reath LLP

NYDFS Releases Pre-Proposed Second Amendment to its Cybersecurity Regulations, 23 NYCRR 500

On July 29, 2022, the New York Department of Financial Services (NYDFS) published the pre-proposed second amendment to its Cybersecurity Regulations, 23 NYCRR 500 (Part 500), that if adopted, would likely require numerous...more

BakerHostetler

NYDFS Proposed Amendments to Its Cybersecurity Rules

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​​​​​​​On July 29, the New York Department of Financial Services (NYDFS) released Draft Amendments to its Part 500 Cybersecurity Rules that include a number of significant amendments to the rules, including notification...more

Goodwin

DOJ Announces New Initiative to Use False Claims Act to Enforce Compliance with Data Privacy and Security Laws and Contract...

Goodwin on

The Department of Justice recently announced the launch of its new Civil Cyber-Fraud Initiative (the “Initiative”) which intends to use the False Claims Act to pursue “cybersecurity-related fraud by government contractors and...more

Holland & Knight LLP

Get Ready for HIPAA Questions on Your Recognized Security Practices

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An amendment to the Health Information Technology for Economic and Clinical Health (HITECH) Act was signed into law on Jan. 5, 2021, directing U.S. Health and Human Services (HHS) to consider "recognized security practices"...more

White & Case LLP

Cybersecurity Enforcement: New York Department of Financial Services issues first penalty under Cybersecurity Regulation

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Consistent with its increasing activity in the cybersecurity enforcement space, in March 2021, the NYDFS issued its first penalty under the Cybersecurity Regulation. This client alert explores the settlement and offers...more

Morrison & Foerster LLP - Social Media

N.Y.’s New Cybersecurity Regulations: What Financial Services Companies Need to Know

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

Morrison & Foerster LLP

New York Cybersecurity Regulations: What Do They Mean and When Do They Mean it By?

The New York State Department of Financial Services (NYDFS) has released guidance for covered financial institutions regarding its cybersecurity rule (the “Cybersecurity Rule” or “Rule”) that took effect on March 1, 2017. ...more

Kramer Levin Naftalis & Frankel LLP

New York State Department of Financial Services Modifies Proposed Cybersecurity Regulations and Pushes Implementation Date Back to...

On Dec. 28, 2016, the New York State Department of Financial Services (NYDFS) published a revised version of its “Cybersecurity Requirements for Financial Services Companies” (the “Regulations”). The revised Regulations...more

Foley & Lardner LLP

NY Financial Services Companies’ 2017 Resolution: Cybersecurity

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The New York State Department of Financial Services (DFS) made headlines back in late September with a “first-in-the-nation” piece of legislation aimed at mandating specific cybersecurity protocols for banks, insurance...more

Stinson LLP

Emerging Trends Newsletter - Q3

Stinson LLP on

We are thrilled to bring you the third installment of Stinson Leonard Street's Emerging Trends newsletter. We are proud of the depth and breadth of experience and knowledge across our firm's 13 offices nationwide and are...more

Stinson - Corporate & Securities Law Blog

The New York State Department of Financial Services Proposes Robust Cybersecurity Rules

On September 13, 2016, the New York State Department of Financial Services (DFS) proposed new rules that would require certain “Covered Entities” to establish and implement cybersecurity programs designed to protect nonpublic...more

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