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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. Some requirements also apply specifically to larger covered entities falling under the “Class A companies” category.

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Proposed Amendments to NY Financial Services Cybersecurity Regulations Impose New Obligations on Large Entities, Boards of Directors and CISOs

Hunton Privacy

On July 29, 2022, the New York Department of Financial Services (“NYDFS”) posted proposed amendments (“Proposed Amendments”) to its Cybersecurity Requirements for Financial Services Companies (“Cybersecurity Regulations”). As part of the “access privileges” requirements under Section 500.7 Class A Companies.

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Why you should keep data observability separate from data cleansing

Collibra

As a principal for data quality, I enjoy taking time to work with our customer base. These organizations demonstrate perspectives and prioritization that show great promise in the industry of data. . For financial services, data governance found its roots in risk. Cyber Security.

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The Impact of Data Protection Laws on Your Records Retention Schedule

ARMA International

It is essential that your organization’s records retention schedule is compliant with the data protection requirements in the jurisdictions where your organization operates. Introduction to Data Protection Laws. Personal data protection requirements may be issued by federal, state (provincial), or local governments.

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NYDFS proposes significant cybersecurity regulation amendments

Data Protection Report

On November 9, 2022, the New York Department of Financial Services (NYDFS) officially proposed changes to its cybersecurity regulation and opened a 60-day public comment period. Notice of Cybersecurity Event. NYDFS had issued a “pre-proposed” version of the changes in July of this year, which we had summarized here.

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China’s PIPL has finally arrived, and brings helpful clarification (rather than substantial change) to China’s data privacy framework

DLA Piper Privacy Matters

Rather than bringing substantial changes to the existing China data privacy framework, the PIPL helpfully consolidates and clarifies obligations on processing of personal information at a national law level. To be clear, this is not China’s own GDPR.

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ICYMI – Late December in privacy and cybersecurity

Data Protection Report

Colorado’s privacy law does not have any “data localization” or “international data transfer” requirements. to report this event to the Department within 72 hours of its being discovered.”) The list appears in proposed rule 6.04.A. 2. b. Profiling is not prohibited for purposes of granting credit. 7. a (Yes).

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