United States of America: Consultation opened on Amendments to Cybersecurity Requirements for Financial Services Companies

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Description

Consultation opened on Amendments to Cybersecurity Requirements for Financial Services Companies

On 29 July 2022, the New York State Department of Financial Services (NYDFS) published and opened a consultation on 23 NYCRR 500, a set of amendments to the cybersecurity obligations of financial services companies. The changes include an updated definition of cybersecurity risk assessment, changes to the frequency at which cybersecurity and risk assessment policies must be reviewed, the requirement for more regular disaster tests and cybersecurity reviews, and new incident response and reporting obligations. The stakeholders are invited to submit their comments until 8 August 2022.

Original source

Scope

Policy Area
Data governance
Policy Instrument
Cybersecurity regulation
Regulated Economic Activity
other service provider
Implementation Level
subnational
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

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2022-07-29
in consultation

On 29 July 2022, the New York State Department of Financial Services (NYDFS) published and opened a…

2022-08-18
processing consultation

On 18 August 2022, the New York State Department of Financial Services (NYDFS) closed its consultat…

2022-11-09
in consultation

On 9 November 2022, the New York State Department of Financial Services (NYDFS) published and opene…

2023-01-09
processing consultation

On 9 January 2023, the public consultation on the Amendment to the cybersecurity obligations of fin…

2023-06-28
in consultation

On 28 June 2023, the New York State Department of Financial Services (NYDFS) published and opened a…

2023-08-14
processing consultation

On 14 August 2023, the New York State Department of Financial Services (NYDFS) closed the consultat…

2023-10-16
adopted

On 16 October 2023, the New York State Department of Financial Services (NYDFS) adopted the Second …

2023-11-01
in force

On 1 November 2023, the New York State Department of Financial Services (NYDFS) implemented the Sec…