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On March 1, 2017, the Department of Financial Services enacted a regulation establishing cybersecurity requirements for financial services companies, 23 NYCRR Part 500 (referred to below as “Part 500” or “the Cybersecurity Regulation”).
N.Y. Comp. Codes R. & Regs. Tit. 23 § 500.11 - Third-party service provider security policy. (a) Each covered entity shall implement written policies and procedures designed to ensure the security of information systems and nonpublic information that are accessible to, or held by, third-party service providers.
23 NYCRR 500 CYBERSECURITY REQUIREMENTS FOR FINANCIAL SERVICES COMPANIES I, Maria T. Vullo, Superintendent of Financial Services, pursuant to the authority granted by sections 102, 201, 202, 301, 302 and 408 of the Financial Services Law, do hereby promulgate Part 500 of Title 23 of the
8 Νοε 2023 · DFS published proposed revisions and detailed information on the Department’s Cybersecurity Resource Center: June 2021: Guidance on Ransomware. October 2021: Guidance on Adoption of an Affiliate’sCybersecurity Program. December 2021: Guidance on MultifactorAuthentication (MFA) FAQs and other detailed information.
New York’s cybersecurity regulation in a nutshell—23 NYCRR 500. WHO NEEDS TO COMPLY? All insurance agents, brokers and companies that are licensed in New York state are subject to the requirements of this regulation. This includes nonresident licensees.
20 Ιαν 2023 · Financial institutions operating in New York must comply with the 23 NYCRR 500 requirements to prevent cybersecurity risks from impacting sensitive consumer data. Complying with 23 NYCRR 500 will help you implement best practices to secure financial service transactions.
File Annual Cybersecurity Compliance Forms (by April 15 of each year) Covered Entities must review data and documentation to determine their compliance with Part 500
