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NYS DFS Issues New Cybersecurity Guidance on Risk Assessments for Financial Services Entities
On September 10, 2026, the New York State Department of Financial Services (DFS) released guidance establishing expectations for DFS-regulated financial services entities to conduct risk assessments that inform their cybersecurity programs. The guidance specifies requirements around scope, frequency, and assessment roles.
Why it matters: Financial services firms regulated by DFS must align their risk assessment practices with this new guidance or face potential enforcement action and compliance violations.
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