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NY DFS Cybersecurity Requirements (23 NYCRR 500)

Requires financial services companies regulated by the New York Department of Financial Services to implement and maintain a cybersecurity program, including risk assessments, access controls, and incident response. Applies to banks, insurers, and other DFS-regulated entities operating in New York.

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Rules extracted

183

Obligations decomposed

8.7x

Avg obligations per rule

🇺🇸 United States

Jurisdiction

What AuditDSS covers

Source

Regulation

Extracted

Rules

Decomposed

183

Obligations

8.7x

Decomposition ratio

Each rule is decomposed into an average of 8.7 atomic obligations — the smallest testable units that can be independently violated.

Fully extracted & scored

All 183 obligations have been decomposed, titled, risk-scored, and embedded for semantic matching.

Risk scoring

Every obligation in 23 NYCRR 500 is scored across independent risk dimensions:

Obligation Weight

How critical within the regulatory framework

Violation Likelihood

How often breached in practice

Enforcement Evidence

Regulator enforcement history and penalties

Cascade Dependency

How many obligations depend on this one

Regulatory details

Full title: NY DFS Cybersecurity Requirements (23 NYCRR 500)
Regulatory body: New York Department of Financial Services
Jurisdiction: 🇺🇸 United States
Document type: state-regulation
Effective date: November 1, 2023
Issuing authority: New York Department of Financial Services (NY DFS)
Industry: Medical Devices & Diagnostics
Official source: View source document ↗

Who this applies to

covered entitiesclass A companies

Key requirements

cybersecurity program
CISO designation
penetration testing
access privileges
risk assessment
audit trail
incident response plan
encryption of nonpublic information
third-party service provider security

Frequently asked questions about 23 NYCRR 500

What is 23 NYCRR 500?

23 NYCRR Part 500 as amended November 2023. Applies to all DFS-regulated entities including banks, insurance companies, and financial services companies. Includes the 2023 amendments with enhanced requirements for Class A companies.

Who does 23 NYCRR 500 apply to?

23 NYCRR 500 applies to covered entities, class A companies.

How many obligations does 23 NYCRR 500 contain?

AuditDSS has decomposed 23 NYCRR 500 into 183 atomic obligations from 21 rules. Each obligation is independently testable and risk-scored.

What are the key requirements of 23 NYCRR 500?

The key requirements include: cybersecurity program, CISO designation, penetration testing, access privileges, risk assessment, audit trail, incident response plan, encryption of nonpublic information, third-party service provider security.

How can I assess my 23 NYCRR 500 compliance?

Upload your compliance policy to AuditDSS. The platform maps your document against all 183 23 NYCRR 500 obligations using deterministic AI scoring — not checklists or LLM summaries. You get a risk-scored gap analysis showing exactly which obligations are covered, partially covered, or missing.

Which jurisdiction enforces 23 NYCRR 500?

23 NYCRR 500 is enforced in United States by New York Department of Financial Services.

When did 23 NYCRR 500 come into effect?

23 NYCRR 500 became effective on November 1, 2023.

What industry does 23 NYCRR 500 apply to?

23 NYCRR 500 is primarily relevant to the Medical Devices & Diagnostics industry. AuditDSS covers 64 regulations in this industry sector.

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Policy

High-level commitments and governance framework covering 23 NYCRR 500 requirements.

Procedures

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AI maps against 183 obligations

Your document is scored against every obligation in 23 NYCRR 500. Each claim is mapped to the obligation tree and evaluated for coverage.

Risk-scored gap report

Receive every gap ranked by risk priority with remediation guidance, enforcement evidence, and cascade impact analysis.