23 NYCRR 500 And Potential Penalties For Failure to Meet the Regulation
                     23 NYCRR 500 And Potential Penalties For Failure to Meet the Regulation
• The NYS DFS (New York State Department of Financial Services) announced 23 New 
York Code Rules and Regulations 500 (23 NYCRR 500), a cybersecurity parameter 
for all financial establishments conducting business in New York City.
• 23 NYCRR 500 is applicable to all organizations and individuals that are regulated by New 
York State Department of Financial Services, impacting any organization or individual that 
“operate under a license, charter, registration, permit, certificate, accreditation or identical 
consent under the New York insurance law, banking law, or the financial service law.”
What are the potential penalties for failure to meet 23 NYCRR 500 regulations?
• Falling short to comprehend the widespread coverage of 23 NYCRR 500, alongside 
the accessible exclusions, timing and limits of the exclusions under the final law, 
could subject a covered entity to possible penalties.
• CompCiti’s purpose driven solution and approach will aid you accomplish 23 NYCRR 
500 compliance in a way that’s aligned with your mission and provide you the 
technical and operational infrastructure to maintain that compliance over time. Also, 
CompCiti can act as your CISO taking care of all the details to ensure compliance.
• Compciti Business Solutions Inc.
•
261 West 35th Street, Suite 603
•
New York, NY 10001
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Phone: (212) 594-4374
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Fax: (212) 594-6714
• https://compciti.com/contact/ 
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