What’s next: An update on the NYDFS requirements
What’s next: An update on the NYDFS requirements
Insight

What’s next: An update on the NYDFS requirements

Since the release of the New York Department of Financial Services 23 NYCRR 500 (DFS 500), financial services firms have made significant strides to address the regulatory requirements.

Since the release of the New York Department of Financial Services 23 NYCRR 500 (DFS 500), financial services firms have made significant strides to address the regulatory requirements. Although there still remains some compliance concerns, the initially identified key challenges have largely been addressed. Now, Covered Entities are looking ahead to sustainability, consistency, and better oversight of the regulatory environment as a whole.

KPMG is assisting in various initiatives across the DFS500 compliance spectrum, including but not limited to, DFS500 compliance assessments, gap remediation recommendations, development of strategic roadmap, executive dashboard development, penetration testing, and managed services.

When it comes to implementing our clients’ vision to meet these requirements and enhance compliance posture, the following are the top three areas of concern for executives:

  • Moving toward sustainability
  • Developing a unified compliant framework
  • Addressing resource needs

To learn more about how to face these challenges and how KPMG is assisting in various initiatives across the DFS500 compliance spectrum and how to assist your clients please click on the link below: