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NYDFS Amends Cybersecurity Rules for Financial Services Companies

Hunton Privacy

On November 9, 2022, the New York Department of Financial Services (NYDFS) released its second, proposed amendments to the Part 500 Cybersecurity Rule. Revised Definition of Class A Companies. The proposed amendments revise several aspects of the draft Cybersecurity Rule amendments released on July 29, 2022.

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NYDFS Proposes Updated Second Amendment to Its Cybersecurity Regulation

Hunton Privacy

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.

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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. Revised Definition of Class A Companies and other Key Requirements.

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You’re Invited to an In-Person Event: CCPAnow: Understanding the Challenge Ahead and What You Should Be Doing Now

HL Chronicle of Data Protection

A few key topics that will be addressed are: How should you interpret key definitions like “personal information,” “sale,” “third party,” and “business” when operationalizing the CCPA? How will the financial incentives and anti-discrimination provisions actually work when consumers exercise their rights?

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Takeaways From CCPA Public Forums

Data Matters

The forums won’t likely provide definitive answers, they will likely provide some of the best information available. Definition of Unique Identifiers. Updating as needed the definition of unique identifiers. On the one hand, consumer groups advocated to keep the definition of personal information as broad as possible.

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The Impact of Data Protection Laws on Your Records Retention Schedule

ARMA International

Definition and Purpose of a Records Retention Schedule. Certain sectors, such as banking, financial services, health, and insurance have their own data protection and privacy requirements. 8 This is the GDPR definition and other countries have similar broad definitions of personal data.

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The Privacy Officers’ New Year’s Resolutions

Data Protection Report

The New York State Department for Financial Services regulations require covered entities to have appropriate record retention policies and procedures and the CCPA provides an extra incentive to implement proper information governance to minimise the costs data access requests. In the U.S., Conquer the world! Be one step ahead.

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