Financial institutions in Singapore to strengthen their cyber resilience— Monetary Authority of Singapore consults on cyber security measures
Posted on Oct 1, 2018 in Cybersecurity, Financial Services, Regulation | Comments Off on Financial institutions in Singapore to strengthen their cyber resilience— Monetary Authority of Singapore consults on cyber security measures
Recently, JPMorgan Chase CEO Jamie Dimon warned that the “biggest vulnerability” for the financial system is the threat of cyber attacks. Hackers, especially those working for nation-states, have grown more sophisticated and more determined, especially as geopolitical tensions rise. On September 6, 2018, the Monetary Authority of Singapore (MAS) issued a Consultation Paper on the...
What European Financial Institutions need to know about New York’s Cybersecurity Regulations
Posted on Aug 1, 2017 in Uncategorized | Comments Off on What European Financial Institutions need to know about New York’s Cybersecurity Regulations
From 28 August 2017, banks, insurers, and other financial institutions operating in New York will be required to comply with the New York Department of Financial Services (“NYDFS”) Cybersecurity Requirements for Financial Services Companies (the “Regulations”). Finalized on March 1, 2017, firms had 180 days from the effective date to comply with the core requirements of the...
NYDFS Makes Inquiry into Life Insurers’ Use of Algorithmic Underwriting
Posted on Jul 17, 2017 in Financial Services, Insurance | Comments Off on NYDFS Makes Inquiry into Life Insurers’ Use of Algorithmic Underwriting
On June 29, 2017, the New York Department of Financial Services (NYDFS) issued an information request pursuant to Section 308 of the New York Insurance Law addressed to all life insurers and fraternal benefit societies authorized to write life insurance in New York (the 308 Request) requesting information about how they use “external consumer data” and algorithms in their underwriting...
How Boards Can Prepare for New York’s Cybersecurity Regulation
Posted on Jun 1, 2017 in Cybersecurity | Comments Off on How Boards Can Prepare for New York’s Cybersecurity Regulation
The New York State Department of Financial Services’ (DFS) much-anticipated cybersecurity regulation went into effect on March 1, 2017, introducing new requirements in a sensitive area that boards and senior officers will have to ensure their firms are ready to comply with. Learn more.
New York Adopts Cybersecurity Requirements
Posted on Apr 1, 2017 in Cybersecurity, Insurance | Comments Off on New York Adopts Cybersecurity Requirements
In their article for Captive Insurance Company Reports, Eversheds Sutherland (US) attorneys P. Bruce Wright, Saren Goldner and Daren Moreira discuss New York Department of Financial Services’ (DFS) final rule that established cybersecurity requirements for financial services companies (including insurance companies) regulated by the DFS. Learn more.
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