What compliance frameworks do financial services companies need?
Financial services firms typically must address SOX ITGC, the GLBA Safeguards Rule, PCI DSS for cardholder data, NYDFS 23 NYCRR 500, FFIEC guidance, SEC Regulation S-P, and DORA for EU operations. Most also pursue SOC 2 and ISO 27001 for customer assurance. Compyl maps one control library to all of them at once.
How does Compyl help with NYDFS 23 NYCRR 500?
Compyl maps your controls to each NYDFS 500 requirement, MFA (500.12), access controls, encryption, risk assessment, and the CISO reporting obligation, and continuously collects evidence from your stack, so you can produce the annual certification with current proof instead of a year-end scramble.
Can one piece of evidence satisfy multiple financial regulations?
Yes. With cross-mapping, evidence that MFA is enforced can satisfy SOX ITGC access controls, GLBA Safeguards, PCI DSS 8.4, NYDFS 500.12, and SOC 2 CC6.1 simultaneously. You collect it once and it counts for every regulator that requires it.
How does Compyl support audit and regulatory exam readiness?
Compyl monitors controls continuously and scores every evidence artifact on relevance, freshness, and completeness, so control gaps and drift surface weeks before an exam or audit. Auditors and examiners get live, organized proof instead of a request-list fire drill.
Does Compyl handle third-party and fintech partner risk?
Yes. Compyl assesses and continuously monitors vendor and fintech-partner risk, automates security questionnaires, and quantifies exposure in dollars using the FAIR model, so risk reporting speaks the language your board, CFO, and regulators expect.
What replaced the FFIEC Cybersecurity Assessment Tool?
The FFIEC retired the CAT on August 31, 2025. It points institutions to NIST CSF 2.0 and CISA’s Cybersecurity Performance Goals, with industry options such as the CRI Profile and CIS Controls. Examiners remain risk-focused, so institutions still need current, evidence-backed controls.
When did the amended Regulation S-P take effect?
Larger entities had to comply by December 3, 2025 and smaller entities by June 3, 2026. Firms need a written incident response program and service-provider oversight, must notify affected customers within 30 days, and must require service providers to report a breach within 72 hours.
How fast must a financial institution report a cyber incident?
It depends on the regulator: banks notify their primary federal regulator within 36 hours, NYDFS-covered firms notify DFS within 72 hours and report extortion payments within 24 hours, public companies file an 8-K within four business days of determining materiality, and FTC-covered non-banks report breaches affecting 500+ consumers within 30 days.
What is CIRCIA and when will it apply?
The Cyber Incident Reporting for Critical Infrastructure Act will require covered entities to report substantial cyber incidents to CISA within 72 hours and ransom payments within 24 hours. CISA’s final rule has been delayed several times and was targeted for fall 2026, and reporting obligations start only once the final rule takes effect.
