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1. Bank regulation - 1.1 Prudential regulation - The ESRB has published a speech by Christine Lagarde, President of the ECB and Chair of the ESRB, on its first general warning about financial stability risks that it published...more
Last month, Bond, Schoeneck & King sought an exemption from cybersecurity regulations proposed by the New York State Department of Financial Services (DFS) for colleges, universities and other charitable organizations that...more
The New York Department of Financial Services (DFS) rang in the New Year by releasing changes to the agency's proposed cybersecurity regulations. What happened - On December 28, 2016, as the result of extensive...more
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
Yesterday, the New York Department of Financial Services (DFS) announced an “updated” cybersecurity regulation that will go into effect on March 1, 2017. The updated regulation is, in many respects, less stringent than the...more
As we previously reported, in September 2016 the New York Department of Financial Services (the “DFS”) proposed a regulation that would require banks, insurance companies and other financial services institutions regulated by...more
Yesterday, Reuters reported that the New York Department of Financial Services (“DFS”) will delay the effective date of its new cybersecurity regulation. According to a “person familiar with the matter,” the DFS will publish...more
This is our final installment in a three-part series examining the New York State Department of Financial Services (“DFS”) new cybersecurity regulation. In this installment, we provide an overview of the regulation’s impact...more
With the public comment period closing in a few days, the New York Department of Financial Services (DFS) “first in the nation” cybersecurity regulation is one step closer to becoming law. The regulation – which covers a...more
The New York Department of Financial Services has proposed new cybersecurity regulations “designed to promote the protection of customer information as well as the information technology systems of regulated entities...more
The New York State Department of Financial Services (NYSDFS) recently proposed new cybersecurity regulations for banks, insurance companies, and other financial institutions—the first regulations of their kind in the United...more
On September 13, 2016, the New York State Department of Financial Services (“DFS”) released proposed cybersecurity regulations for financial institutions.1 When the regulations become effective, they will make New York the...more
If the New York State Department of Financial Services (“DFS”) has its way, come January 1, 2017, financial services companies that require a form of authorization to operate under the banking, insurance, or financial...more
Earlier this month, the New York State Department of Financial Services (“DFS”) announced proposed cybersecurity regulations for financial institutions. This proposal is, according to Governor Cuomo, a “new...more
Just as it promised a year ago, New York State proposed new proscriptive, minimum cybersecurity requirements for regulated financial services institutions. The regulations go final after a 45-day notice and public comment...more
New York state has proposed a new regulation — to go into effect January 1, 2017 — that would require banks, insurance companies and other financial services institutions regulated by the New York State Department of...more
New York Governor Andrew M. Cuomo announced yesterday a new proposed regulation to address the growing threat posed by cyber-attacks. According to the State’s press release, the proposed regulation, which is subject to a...more