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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. Covered entity means “any person operating under or required to operate under a license, registration, charter, certificate ...
22 Φεβ 2024 · The NYDFS Cybersecurity Regulation, also known as 23 NYCRR Part 500, is a set of regulations from the New York State Department of Financial Services that establishes cybersecurity requirements for all covered financial institutions.
How must a Covered Entity address cybersecurity issues with respect to a Bank Holding Company (“BHC”)? Under 23 NYCRR Part 500, the Covered Entity is responsible for compliance with respect to its Information Systems.
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.
The NYDFS Cybersecurity Regulation (23 NYCRR 500) is a set of regulations from the New York State Department of Financial Services (NYDFS) that places cybersecurity requirements on all Covered Entities (financial institutions and financial services companies).
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.
The NYDFS Part 500 Cybersecurity Regulation (23 NYCRR Part 500) is designed to protect customer data and information technology systems in the financial sector. The regulation has been in force since March 1, 2017.
