NYDFS Announces Significant Cybersecurity Settlement with EyeMed Vision Care

On May 1, 2023, bitFlyer USA, Inc. (“bitFlyer”) entered into a Consent Order with the New York Department of Financial Services (“DFS”) for multiple deficiencies in bitFlyer’s cybersecurity program, most notably for failure to conduct periodic risk assessments to sufficiently inform the design of bitFlyer’s cybersecurity program (as required by 23 NYCRR § 500.09(a)). BitFlyer […]

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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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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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Following the SolarWinds cyber espionage attack (the “Attack”) and the resulting focus on supply chain risk, the New York Department of Financial Services (NYDFS) has issued a report detailing the impact on and responses by its regulated covered entities to the Attack.  Although there have been no reported instances of active exploitation of DFS-regulated companies […]

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