New York Department of Financial Services Rules Part 500: Are You Ready for Amendment 2?
Hackers move fast. The cybersecurity industry works hard to move as fast (or faster) than hackers. And regulators work to keep pace. In 2017, the New York Department of Financial Services enacted the sector’s most ambitious set of cybersecurity regulations: 23 NYCRR Part 500. These “Part 500” rules have been updated to reflect the evolving threat landscape, the most recent change (“Amendment 2”) implemented in December 2023 to address emerging cybersecurity needs.