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ARTICLE · 12 JULY 2024

Navigating The NY DFS Cybersecurity Amendments: A Timeline For 2024 Through 2025

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In December 2023, the New York Department of Financial Services (NY DFS) issued amendments to the cybersecurity requirements, originally adopted in 2017, which include expanded control requirements...

United StatesTechnology
Matt Flora
Matt Flora

In December 2023, the New York Department of Financial Services (NY DFS) issued amendments to the cybersecurity requirements, originally adopted in 2017, which include expanded control requirements and stricter reporting mandates. The main objectives of these cybersecurity requirements are to:

  • Enhance the security and resilience of financial services entities against cyber threats.
  • Ensure the confidentiality, integrity, and availability of information systems and nonpublic information.
  • Foster a culture of cybersecurity awareness and compliance within the financial services sector.

As part of the amendment, a new category of entities was identified, Class A companies: Class A companies are defined as companies with:

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