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NYDFS Part 500, One Year Later (Part One) – New Requirements Effective November 1, 2024

Debevoise Data Blog

November 1, 2024, marks the one-year anniversary of the second amendment to the New York Department of Financial Services’ (“NYDFS” or the “Department”) Cybersecurity Regulation (the “Regulation” or “Part 500”). d)] Encryption: Covered entities must implement a written encryption policy which meets industry standards.

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The Best Legal Billing Software for Large Firms in 2024

Clio

Legal billing software streamlines many essential billing tasks for law firms—like tracking billable hours and expenses, creating invoices, and managing payment collections. – 2024 Legal Trends for Mid-Sized Law Firms. Pros: It enhances productivity. It’s scalable. Solves for more than just billing.

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The Future of Legal Payments: Embracing Digital Solutions

Rocket Matter

For lawyers and firms, time isn’t just money—it’s one of their most important resources. One aspect of business that can gobble away at this valuable time is ineffective payment management. The traditional legal payment process is full of time-consuming steps. First, you calculate billable hours for each client.

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The Highest-growth Legal Practice Areas in 2024 and Beyond

Clio

Read on to learn more about the highest-growth legal practice areas for 2024 and beyond. At the same time, the practice of law is changing rapidly. AI This should come as no surprise, but AI has been transforming businesses and law for some time now, and the full reach of its impact is still yet to be seen.

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Clio Goes All Out with Major Product Announcements, Including A Personal Injury Add-On, E-Filing, and (Of Course) Generative AI

LawSites

The add-on includes features that allow PI lawyers to track the status of medical records and bills, manage expenses, organize damages, and maximize client settlements. Slated to be rolled out in 2024, Clio says this will make it the first law practice management platform with built-in e-filing.

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The Legal Profession's Awkward Tango with AI

Colin S. Levy

Leading firms and departments are increasingly using AI for operational functions, such as time tracking, document management, and data analytics. Firms will need to articulate how AI enables them to provide more insightful, strategic, and timely advice, reframing value in terms of outcomes rather than time spent.

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FINRA’s 2025 Regulatory Oversight Report on Artificial Intelligence

Debevoise Data Blog

As was the case in 2024, the Report highlights continuing and emerging trends in artificial intelligence (AI) in the financial services sector, among other topics. For the first time this year, the Report also highlights threat actor usage of Gen AI to increase the number, credibility, or severity of attacks members now face.