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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.

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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. Notice of Cybersecurity Event. NYDFS had issued a “pre-proposed” version of the changes in July of this year, which we had summarized here.

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The Impact of Data Protection Laws on Your Records Retention Schedule

ARMA International

These records are typically organized by grouping them by function or department and then described as either an individual record or grouped together into a record category. Certain sectors, such as banking, financial services, health, and insurance have their own data protection and privacy requirements.

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Summary – “Industry in One: Financial Services”

ARMA International

The scope of a records and information management (RIM) program in financial services can seem overwhelming. Compared to other industries, the complexities of managing records and information in financial services are arguably some of the toughest to solve, primarily because of the intense regulatory scrutiny.

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Laserfiche Wins Gold in Best in Biz Awards 2017

Info Source

With customers in nearly every industry including government, education, financial services, manufacturing and health care, Laserfiche offers solutions tailored to organizations’ needs, and the expertise and personalized service that drive customer success.

ECM 40
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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”). Below are the key changes introduced by the Proposed Amendments. Class A Companies.

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FRANCE: CNIL adopts new single authorization on fraud prevention systems

DLA Piper Privacy Matters

Only certain categories of entities in the banking and financial sector are eligible to self-certify under the AU-054. The AU-054 covers entities from the banking or financial sector which are under the control of the French Autorité de Contrôle Prudentiel et de Résolution in accordance with Article L.511-20-III