23 NYCRR Part 500 Financial Services Law
The Department of Financial Services, (DFS), has broad authority to take appropriate actions to ensure providers of financial products and services to NY consumers remain solvent, protect consumers, and act reasonably to protect against financial fraud, criminal abuse, and unethical conduct. With Cybercrime on the rise, the DFS proposed new Cybersecurity Requirements for Financial Services Companies, which are designed to ensure safe and sound operations of Financial Providers, and protect New York’s consumers.
Covered entities include but are not limited to, Banks, Lenders, Insurance Companies. To see if your classification of business is affected, click
here.