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NYDFS releases major update to Part 500 cybersecurity requirements for financial services companies

Data Protection Report

On November 1, 2023, the New York Department of Financial Services (“NYDFS”) released the finalized amendments of Part 500 of its cybersecurity regulations. Additional changes to required policies and procedures will not begin to take effect until April 2024 and rolling thereafter.

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Getting ready for artificial general intelligence with examples

IBM Big Data Hub

Nearly all respondents reported promising early results from gen AI experiments and planned to increase their spending in 2024 to support production workloads. 46% of survey respondents in 2024 showed a preference for open source models. Financial services AGI might revolutionize financial analysis by going beyond traditional methods.

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Big California Privacy News: Legislative and Enforcement Updates

Data Matters

The California legislature passed the California Age-Appropriate Design Code Act (AADCA) which, if signed into law (as many expect will be the case), will impose a variety of obligations and restrictions on businesses that develop and provide online services, products or features that minors under 17 are “likely to access.”

Privacy 197
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CISA issues proposed rules for cyber incident reporting in critical infrastructure

Data Protection Report

On March 27, 2024, the Cybersecurity and Infrastructure Security Agency (“CISA”) published a Notice of Proposed Rulemaking for the Cyber Incident Reporting for Critical Infrastructure Act of 2022 (“CIRCIA”), which imposes new reporting requirements for entities operating in critical infrastructure sectors.