Authentication Exercises Financial Services Security 
Data Protection Report
NOVEMBER 8, 2023
On November 1, 2023, the New York Department of Financial Services (“NYDFS”) released the finalized amendments of Part 500 of its cybersecurity regulations. The new rules provide more details on how the senior governing body of the covered entity is expected to exercise oversight of its cybersecurity risk management.
Hunton Privacy
NOVEMBER 23, 2022
On November 9, 2022, the New York Department of Financial Services (NYDFS) released its second, proposed amendments to the Part 500 Cybersecurity Rule. Covered Entities must have a monitoring process that ensures prompt notification of any new security vulnerabilities. Multifactor Authentication.
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Data Matters
JANUARY 28, 2022
The advisory was promptly endorsed by the National Cyber Security Centre, a division of Government Communications Headquarters (“GCHQ”), a UK intelligence agency. Require multi-factor authentication (MFA) for all users. Create, Maintain, and Exercise a Cyber Incident Response, Resilience, and Continuity of Operations Plan.
Hunton Privacy
JULY 12, 2021
On June 30, 2021, the New York State Department of Financial Services (“NYDFS,” the “Department”) issued guidance to all New York state regulated entities on ransomware (the “Guidance”), identifying controls it expects regulated companies to implement whenever possible.
Hunton Privacy
JULY 5, 2023
On June 28, 2023, the New York Department of Financial Services (“NYDFS”) published an updated proposed Second Amendment (“Amendment”) to its Cybersecurity Regulation, 23 NYCRR Part 500. On November 9, 2022, NYDFS published a first draft of the proposed Amendment and received comments from stakeholders over a 60-day period.
Hunton Privacy
AUGUST 15, 2022
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 “training and monitoring” requirements under Section 500.14 Additional Requirements.
HL Chronicle of Data Protection
MAY 13, 2019
Of particular concern to state-level policymakers and enforcement authorities are business practices that in their view may contribute to security incidents. The insurance industry has not been immune from such scrutiny, and the imposition of business practice requirements intended to enhance cybersecurity sector-wide.
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