Freed Maxick Blog New York Cybersecurity Regulation | NYCRR Part 500 | Freed Maxick

In November of 2023, the New York State Department of Financial Services (NYDFS) amended 23 NYCRR Part 500, otherwise known as the Cybersecurity Regulation. While the rule is aimed predominately at the banking and insurance industries, many organizations outside the realm of banking and insurance will still be required to adhere to the rule. Before we get into the changes, let’s discuss what the Cybersecurity Regulation aims to accomplish.