Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

The NYDFS Cybersecurity Regulation (23 NYCRR 500) is a set of regulations from the New York State Department of Financial Services (NYDFS) that places cybersecurity requirements on all Covered Entities (financial institutions and financial services companies). It includes 23 sections outlining requirements for developing and implementing an effective cybersecurity program, requiring Covered Entities to assess their cybersecurity risk and develop a plan to proactively address them.

After several large corporate accounting scandals in the early 2000s that led to investors losing billions of dollars, the US government passed the Sarbanes-Oxley Act of 2002. Commonly referred to as SOX, the bill established and expanded financial and auditing requirements for publicly traded companies in order to protect investors and the public from fraudulent accounting practices.

Since our last update in January, there has been an unprecedented amount of activity in the data privacy world. And yes, we probably do say that every time! New laws have passed in Virginia and Colorado. The UK’s post-Brexit EU adequacy was confirmed. Plus of course, the EU’s significant changes to Standard Contractual Clauses and the reawakening of the debates over Identity Verification, especially in the context of social media.

Although the Sarbanes-Oxley Act of 2002 (SOX) has been around for nearly two decades, many companies still struggle to meet compliance requirements. Initially enacted in response to public companies mishandling financial reporting, SOX is a compliance requirement for all public companies. Understanding SOX compliance, as well as its requirements and controls, helps organizations create more robust governance processes.

A bipartisan Senate bill would require some businesses to report data breaches to law enforcement within 24 hours or face financial penalties and the loss of government contracts. The legislation from Senate Intelligence Chair and Democratic Senator Mark Warner with Republican Senators Marco Rubio and Susan Collins is just one of several new cybersecurity bills that will likely be debated this year. If passed, the bill could require certain U.S.

On May 12, 2021, President Biden signed an executive order calling on federal agencies to improve their cybersecurity practices. Following the recent SolarWinds and Colonial Pipeline attacks, it is clear that security incidents can severely impact the economy and civilians' day-to-day lives and that cybersecurity needs to be a high-priority issue. We encourage you to read the full executive order.

The Data Protection Act 2018 is the legislation enforced by the Information Commissioner’s Office (ICO), UK, to protect personal data processing and data stored on the computer, digital media, or paper filing systems.

Coming into force on May 25th, 2018, the General Data Protection Regulation (GDPR) was a landmark for data protection. Trading blocs, governments, and privacy organizations took note, and over the last three years, GDPR has inspired new data privacy legislation worldwide.

In an ambitious leap towards improving the Nation’s security posture, President Joe Biden has instituted an Executive Order to improve cyber threat information sharing between the U.S Government and the Private Sector. The goal is to align cybersecurity initiatives and minimize future threats to national security by modernizing cybersecurity defenses in the United States.

The data privacy regimes in Russia, China, and the United States are very different from the regimes elsewhere. The financial lure of selling to, or processing data on, EU residents is strong, which has led other countries to adopt the General Data Protection Regulation (GDPR) or something like it. Russia, China, and the United States are large enough for other forces to dominate, including the desire to have their citizens’ data stored locally, as we’ll see.