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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. f), is sufficient to trigger this new notice requirement.

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New SEC Cybersecurity Rules Could Affect Private Companies Too

eSecurity Planet

Securities and Exchange Commission (SEC) strongly advised public companies to improve their cybersecurity. However, after minimal corporate adoption of stronger cybersecurity, the SEC has drafted rules to require more formal cybersecurity reporting and disclosure. See the top Governance, Risk & Compliance (GRC) tools.

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GDPR compliance checklist

IBM Big Data Hub

The General Data Protection Regulation (GDPR) is a European Union (EU) law that governs how organizations collect and use personal data. Schools, hospitals and government agencies all fall under GDPR authority. Supervisory authorities are the regulatory bodies that enforce GDPR requirements.

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China Issues Draft Guidelines on Certification of Personal Information Cross-Border Transfer Activities

Hunton Privacy

On April 29, 2022, the National Information Security Standardization Technical Committee of China issued a draft version of the Cybersecurity Standard Practice Guidelines – Technical Specification on Certification of Personal Information Cross-border Transfer Activities (the “Guidelines”). Rights of Data Subjects.

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California Privacy Law Overhaul – Proposition 24 Passes

Data Matters

Third, it creates a new category of businesses: those that voluntarily agree to be subject to the CCPA. The law says little else about automated decision-making rights other than to direct that regulations be issued governing these opt-out and access rights. However, in some cases, the definition of “business” is narrowed.

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How to implement the General Data Protection Regulation (GDPR)

IBM Big Data Hub

The only processing operations exempt from the GDPR are national security and law enforcement activities and purely personal uses of data. Identify and protect special category data When inventorying data, organizations should make a note of any especially sensitive data that requires extra protection.

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When And How Cos. Should Address Cyber Legal Compliance

Data Matters

They can, however, engage in probing internal due diligence of their companies’ cyber governance and compliance posture before it is too late — that is, before a cyber event occurs. Responsibility for corporate cybersecurity extends from the chief information security officer’s office, to the C-suite, to the corporate boardroom.