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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. Class A companies are specifically required to: – conduct independent audits of their cybersecurity program based on their risk assessment (500.2(c));

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Banking on mainframe-led digital transformation for financial services

IBM Big Data Hub

Financial services companies are considered institutions because they manage and move the core aspects of our global economic system. And the beating heart of financial institutions is the IBM mainframe. Couldn’t execs have run better analyses to spot risks within the data?

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Deploying applications built in external CI through IBM Cloud DevSecOps

IBM Big Data Hub

Cyber risk is preeminent in today’s threat landscape, and that includes attacks on the software supply chain. These are referred to as supply chain risks, and they include vulnerable code that may be included from open source or third parties.

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New York Department of Financial Services Issues Guidance Regarding Life Insurers’ Use of External Consumer Data in Underwriting

Data Matters

On January 18, 2019, the New York State Department of Financial Services (NYDFS) issued Circular Letter 2019-1 (the Circular Letter), addressing insurers’ use of external consumer data and information sources in underwriting for life insurance. Consumer Disclosures.

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U.S. and Foreign Cybersecurity and Intelligence Agencies Recommend Measures to Counteract Threat of Russian Cyberattacks

Data Matters

Other government agencies, like the New York Department of Financial Services and the Federal Trade Commission, are also increasingly focused on the need for broad implementation of MFA. MFA was also expressly named by both Microsoft and Mandiant as one of the most important recommendations to mitigate risk. The post U.S.

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The Privacy Officers’ New Year’s Resolutions

Data Protection Report

The Advocate General (AG) delivered his non-binding opinion on the SCCs just before Christmas (see our blog post ). On 20 December, the ICO updated its blog post explaining the work that it has been doing in this area and how it is considering next steps and “evaluating all of the options available”. Overwhelmed at the prospect?

Privacy 85
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UK Government sets out proposals to shake up UK data protection laws

Data Protection Report

In August, the Government announced that it intended to “seize the opportunity” afforded by the UK’s exit from the European Union to makes some changes (see our blog The UK Government unveils its post-Brexit plans to shake up data protection laws | Data Protection Report ). The deadline for responding to the consultation is 19 November 2021.