November 1, 2025: Financial Institutions Must Meet NYDFS 500.13 Compliance on Asset Management and Data Retention
The New York Department of Financial Services (NYDFS) has updated its cybersecurity legislation, and financial institutions need to comply with Section 500.13 by November 1, 2025. This regulation requires institutions to set clear policies and procedures for managing assets and securely handling non-public data. That includes creating a detailed asset inventory and ensuring proper data disposal.
NYDFS 500.13 Deadline: Financial institutions must comply by November 1, 2025.
Key Requirement: Maintain an updated asset inventory and securely dispose of sensitive data—Workwize centralizes your asset tracking and automates secure data disposal.
Avoid Compliance Risks: Non-compliance can lead to audits, penalties, and disruptions.
Simplified Asset Management: Workwize automates asset updates, validation, and lifecycle tracking, reducing IT workload and errors.