On October 16, 2024, the New York State Department of Financial Services (DFS) issued an industry letter, Cybersecurity Risks Arising from Artificial Intelligence and Strategies to Combat Related Risks, providing guidance on the cybersecurity risks associated with the use of artificial intelligence (AI) and strategies for entities regulated by DFS (“Covered Entities”) to
Justin Herring
FINRA Highlights Increasing Cybersecurity Risks at Third-Party Providers
By Justin Herring, Steffen Hemmerich & Kathryn Allen on
Posted in Cybersecurity, FINRA
The Cyber and Analytics Unit within the Member Supervision program of the Financial Industry Regulatory Authority, Inc. (“FINRA”) recently published a cybersecurity advisory regarding increasing cybersecurity risks at third-party providers (the “Cybersecurity Advisory”). The Cybersecurity Advisory highlights third-party risks to FINRA member firms and effective practices to mitigate such risks.
FINRA’s advisory comes at a…
SEC Adopts Amendments To Regulation S-P
On May 15, 2024, the US Securities and Exchange Commission (“SEC”) adopted amendments (the “Amendments”) to Regulation S-P under the Securities Exchange Act of 1934 (the “Exchange Act”), which governs the treatment of nonpublic personal information about consumers by certain financial institutions, to modernize and enhance the protections under the regulation.
The Amendments require broker-dealers…