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The NYDFS recently issued guidance on what steps financial institutions should be taking to reduce the risk of a ransomware attack... The New York Division of Financial Services (NYDFS or Department) recently issued guidance on what steps financial institutions should be taking to reduce the risk of a ransomware attack. The new guidelines come as […]

Two recent cybersecurity enforcement actions resolved by the New York State Department of Financial Services (NYDFS or Department) highlight the importance of notifying NYDFS of cybersecurity incidents... Two recent cybersecurity enforcement actions resolved by the New York State Department of Financial Services (NYDFS or Department) highlight the importance of notifying NYDFS of cybersecurity incidents. Notably, even if […]

After adopting comprehensive cybersecurity regulations for financial services companies, NYDFS is now turning its attention to social media companies… After adopting comprehensive cybersecurity regulations for financial services companies, the New York State Department of Financial Services (NYDFS) is now turning its attention to social media companies. The agency recently concluded its investigation into the recent […]

The New York Department of Financial Services (NYDFS) is overhauling its regulation of virtual currency... The New York Department of Financial Services (NYDFS) is overhauling its regulation of virtual currency. Under its newly proposed framework, it would be easier for virtual currency companies to enter the New York market. Existing BitLicense Requirements New York is […]

The NYDFS Recently Issued Guidance Outlining Principles and Best Practice For Businesses When Designing Their Whistleblower Programs The New York Division of Financial Services (NYDFS) issued guidance outlining principles and best practices that all entities regulated by the agency should take under consideration when designing and implementing their whistleblower programs. The guidance comes after the […]