26 lines
1.0 KiB
Org Mode
26 lines
1.0 KiB
Org Mode
:PROPERTIES:
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:ID: auto-ny-dfs-500
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:CREATED: [2026-05-23 Sat]
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:END:
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#+title:
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#+filetags: :passepartout:compliance:framework:ny:
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** NY DFS 500 (23 NYCRR 500)
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New York State Department of Financial Services cybersecurity regulation for
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financial services. The most aggressive US state-level financial cybersecurity
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rule. Requires: risk assessment, penetration testing, multi-factor authentication,
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incident response plan, annual certification of compliance by the board.
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Who must comply: Any entity regulated by NY DFS — banks, insurers, mortgage
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brokers, virtual currency companies operating in New York. ~3,000 institutions.
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Penalties: $200K-$1M per violation; business license revocation possible.
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Why it matters: The annual board certification requirement creates demand for
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verifiable evidence of control effectiveness — exactly what the gate stack
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produces. First-mover advantage is significant (few vendors target NY DFS 500
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specifically) and the regulation is a template that other states are adopting.
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