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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. The Amendment also includes new governance requirements and responsibilities applicable to the CISO of all covered entities.

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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”). The risk assessments required by Section 500.9

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Business Architecture and Process Modeling for Digital Transformation

erwin

For instance, millennials are adept at using digital channels, and they are the fastest-growing customer base for financial services companies. Digital and business transformation is about being able to do three things at the same time, all working toward the same goals: Collect, document and analyze requirements. Data usage.

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Rock the Blockchain: Thales and DigiCert Secure the Data

Thales Cloud Protection & Licensing

And yet, security is not a nice-to-have feature or an afterthought - it’s a critical business necessity, and ensuring that an appropriate governance structure is in place is crucial. It’s not hard to understand why companies are exercising diligence when selecting a data protection solution.

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The Impact of Data Protection Laws on Your Records Retention Schedule

ARMA International

The purpose of this article is to remove the fear and intimidation of domestic and global data protection laws and show how these laws and requirements are consistent with the existing objectives of your records retention schedule and information governance policy. 3 Personal Information Protection and Electronic Documents Act (PIPEDA).

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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. Governance. The Proposed Regulation Changes.

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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., Be one step ahead.

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