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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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News alert: INE Security’s cybersecurity training service earns 2024 SC Excellence Award

The Last Watchdog

This year’s awards were presented across 33 categories, celebrating both established industry leaders and emerging innovators. The SC Awards , now in its 27th year, recognize the solutions, organizations, and individuals that have demonstrated outstanding achievement in advancing the security of information systems.

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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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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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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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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.