Page 202 - Cyber Defense eMagazine June 2024
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A Closer Look at Recent Changes to New
York State Department of Financial Services
(NYSDFS) Cybersecurity Regulation
By Christopher Salone, Consulting Manager at FoxPointe Solutions
Most changes to The New York State Department of Financial Services (NYSDFS) Cybersecurity
Regulation, 23 NYCRR Part 500, introduced November 2023, have been assigned a compliance date of
April 29, 2024. As this deadline fast approaches, the clock is ticking for financial institutions subject to
regulation by NYSDFS to make the necessary operational changes to remain compliant and avoid
penalties.
This new body of requirements is especially important to thoroughly evaluate ahead of this deadline
because it includes critical redefinitions of terms and standards that continue to cause challenges and
confusion for financial leaders six months post-introduction of the guidance. Of course, the first step to
remaining compliant is to make sure you understand the complex requirements of each guideline.
Cyber Defense eMagazine – June 2024 Edition 202
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