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Due to the rapidly evolving situation in Ukraine and Russian invasion, the New York State Department of Financial Services is issuing Guidance to all regulated individuals and entities (“regulated entities”). The Guidance can be viewed on the DFS website here: Industry Letter - February 25, 2022: Escalating Situation in Ukraine and Impact to Financial Sector
Regulated entities should fully comply with U.S. sanctions on Russia, as well as New York State and Federal laws and regulations, including Department cybersecurity regulations. This Guidance provides a non-exhaustive summary of steps that regulated entities should be taking. The Department understands that most of the specific measures referred to in the Guidance do not apply to individual licensees. However, in the interest of transparency, the Department is sharing this vital information with all regulated entities.
This Guidance, which reminds individual licensees of their existing legal obligations, does not subject individual licensees to new legal obligations. If you have questions about this Guidance, email [email protected]. The Department is continuously tracking the situation and will provide further guidance to regulated entities as necessary.
Due to the rapidly evolving situation in Ukraine and Russian invasion, the New York State Department of Financial Services is issuing Guidance to all regulated individuals and entities (“regulated entities”). The Guidance can be viewed on the DFS website here: Industry Letter - February 25, 2022: Escalating Situation in Ukraine and Impact to Financial Sector
Regulated entities should fully comply with U.S. sanctions on Russia, as well as New York State and Federal laws and regulations, including Department cybersecurity regulations. This Guidance provides a non-exhaustive summary of steps that regulated entities should be taking. The Department understands that most of the specific measures referred to in the Guidance do not apply to individual licensees. However, in the interest of transparency, the Department is sharing this vital information with all regulated entities.
This Guidance, which reminds individual licensees of their existing legal obligations, does not subject individual licensees to new legal obligations. If you have questions about this Guidance, email [email protected]. The Department is continuously tracking the situation and will provide further guidance to regulated entities as necessary.
