Inside Cybersecurity | Lawyers Warn of Expanded Data-Breach Enforcements by States to Address Operational Impacts
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Blog Posts July 11, 2023NY DFS Releases Revised Proposed Second Amendment of its Cybersecurity Regulation
The New York Department of Financial Services (“NY DFS”) published an updated proposed Second Amendment to its Cybersecurity Regulation (23 NYCRR Part 500) in the New York State Register on June 28, 2023, updating its previous proposed Second Amendment, which was published November 9, 2022. While the language proposed is largely similar to the previous […]
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Advisories December 21, 2022Financial Services & Products Advisory: New York State Department of Financial Services Outlines Prior Approval Process for Virtual Currency-Related Activity
The New York State Department of Financial Services has issued an industry letter detailing the prior approval process for all New York banking organizations seeking to engage in new or significantly different virtual currency-related activity.
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Blog Posts November 18, 2022NYDFS Releases Significant Enhancements to its Cybersecurity Regulation in the Proposed Second Amendment
The New York Department of Financial Services (“DFS”) released their proposed second amendment to the Cybersecurity Regulation, 23 NYCRR Part 500 (“Proposed Second Amendment”) on October 9, 2022. DFS issued a minor amendment on April 2, 2020, revising the certification of compliance date (from February to April). The Proposed Second Amendment follows DFS’s “pre-proposed” draft […]
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Blog Posts July 3, 2021NYDFS Issues Guidance on Cybersecurity Controls to Combat Ransomware and Clarifies Reporting Obligations
The New York Department of Financial Services (NYDFS) issued new guidance this week intended to assist organizations in thwarting ransomware attacks. The guidance clarifies the NYDFS’ expectation that NYDFS-regulated companies should “implement these controls whenever possible” and report any successful deployment of ransomware or unauthorized access to privilege accounts to the NYDFS under its established […]
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Advisories May 14, 2021Privacy, Cyber & Data Strategy Advisory: Top 7 Issues All General Counsel Need to Know About RansomwareCompanies face increasingly tough decision points in preparing for and responding to the proliferation of ransomware attacks. Our Privacy, Cyber & Data Strategy Group outlines seven issues for general counsel to consider as companies calibrate their cybersecurity preparedness to the current ransomware threat landscape.