Deutsche Bank AG will pay a fine of $205 million to the New York State Department of Financial Services (DFS) for violations of New York banking law that include “efforts to improperly coordinate trading activity through online chat rooms, improperly sharing confidential customer information, trading aggressively to skew prices, and misleading customers.” The fine and… Read More >>
New York Proposes Mandatory Cyber-Security for Firms
NY DFS Proposes Regulation to Require Cyber-Security Programs The state of New York via the State Department of Financial Services (DFS) wants to require banks, insurance companies, and financial services institutions to “establish and maintain” a cyber-security program via a new regulation proposed by the DFS and Governor Andrew M. Cuomo. The impetus for the… Read More >>
Cyber-Security Exams Coming for NY Banks
New York state officials will be adding cyber-security tests to their regular examinations of banks registered in the Empire State as directed by Governor Andrew M. Cuomo who ordered the Department of Financial Services (DFS) to begin “new, regular, targeted cyber-security preparedness assessments,” according to DFS officials. The new exams follow news last month that… Read More >>
