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FCA Publishes Wholesale Banks and Asset Management Cyber Multi-Firm Review Findings

Data Matters

The UK Financial Conduct Authority (“ FCA ”) has carried out a multi-firm review of cybersecurity practices with a sample of 20 firms in the wholesale banking and asset management sectors (the “ Report ”). The Report provides a number of useful takeaways for all firms to consider in relation to their cybersecurity management.

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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 “training and monitoring” requirements under Section 500.14

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NYDFS proposes significant cybersecurity regulation amendments

Data Protection Report

On July 29, 2022, the New York Department of Financial Services (NYDFS) announced a “pre-proposed outreach” of material proposed changes to almost every section of its cybersecurity regulations, and would affect each entity covered by the current regulations of 23 NYCRR Part 500. The Proposed Regulation Changes. Governance.