
Keypoint: Section 500.17(b) of 23 NYCRR Part 500 (“Part 500”) requires all non-exempt Covered Entities regulated by the New York Department of Financial Services to submit their annual notices of compliance by April 15th.
Businesses that are subject to the NYDFS Cybersecurity Regulations have four weeks left to submit their annual notices of compliance or acknowledge their noncompliance. When the regulations were amended in 2023, several of the new requirements were phased in over two years. Businesses cannot simply re-use their notice from last year, without confirming that the new obligations were met and preparing for the requirements going into effect in 2025.