UL Certification
Third-party safety certification for products via testing, audits
23 NYCRR 500
NY regulation for financial services cybersecurity compliance.
Quick Verdict
UL Certification ensures product safety via testing and marks for global manufacturers, while 23 NYCRR 500 mandates cybersecurity governance for NY financial entities. Companies pursue UL for market access and trust; NYCRR for regulatory compliance.
UL Certification
Underwriters Laboratories Product Certification System
Key Features
- Ongoing factory follow-up inspections ensure sustained compliance
- Distinct UL Marks for Listed products, Recognized components
- OSHA-recognized NRTL testing to consensus safety standards
- Lifecycle certification covering design, testing, manufacturing control
- Enhanced Smart Marks with QR codes, attribute bundling
23 NYCRR 500
23 NYCRR Part 500
Key Features
- Annual CEO/CISO dual compliance certification
- 72-hour cybersecurity incident notification
- Phishing-resistant MFA for high-risk access
- Rigorous TPSP risk assessment and contracts
- Annual penetration testing and vulnerability management
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
UL Certification Details
What It Is
UL Certification is the Underwriters Laboratories conformity assessment system for product safety. As an OSHA-recognized NRTL, it verifies products meet UL consensus standards through testing and evaluation. Primary purpose: reduce hazards like fire, shock via risk-based construction, performance, marking requirements. Scope spans industries like electronics, energy, building.
Key Components
- **UL MarksListed (end-use products), Recognized (components), Classified (limited scope), Verified (claims).
- Core elements: lab testing (safety, EMC, environmental), factory inspections, follow-up surveillance.
- Built on 1500+ standards; certification model includes initial evaluation, authorization, ongoing audits.
Why Organizations Use It
Drives market access via retailer/inspector acceptance; reduces liability, insurance costs. Strategic for trust signaling, ESG alignment. Not legally mandated but de facto required for high-risk electrical products.
Implementation Overview
Phased: gap analysis, design compliance, prototype testing, factory readiness, certification, surveillance. Applies to manufacturers globally; requires documentation, samples, audits. Typical for mid-large firms in safety-sensitive sectors.
23 NYCRR 500 Details
What It Is
23 NYCRR Part 500 is the New York Department of Financial Services (NYDFS) Cybersecurity Regulation, a state-level mandate for financial services entities. It establishes minimum, risk-based cybersecurity requirements to protect nonpublic information (NPI) and information systems' confidentiality, integrity, and availability. The approach emphasizes governance, evidence-based outcomes, and prescriptive controls like MFA and incident reporting.
Key Components
- 14 core requirements including cybersecurity program, CISO appointment, risk assessments, MFA, encryption, TPSP oversight, penetration testing, and 72-hour incident notification.
- Built on risk assessment foundation; annual CEO/CISO certification with five-year record retention.
- Enhanced for Class A Companies (>$20M NY revenue + >2,000 employees or >$1B global revenue) with audits and EDR.
- Compliance model: self-attestation, DFS examinations, enforcement via consent orders.
Why Organizations Use It
- Mandatory for NY-licensed financial entities (banks, insurers, etc.) to avoid multimillion-dollar fines.
- Reduces cyber incident risk, strengthens vendor management, builds stakeholder trust.
- Provides competitive edge through robust resilience and insurance benefits.
Implementation Overview
- Phased roadmap: gap analysis, risk assessment, control deployment (MFA, asset inventory), testing.
- Applies to Covered Entities in NY financial services; exemptions for small firms.
- No external certification but requires evidence for annual April 15 filing and audits.
Key Differences
| Aspect | UL Certification | 23 NYCRR 500 |
|---|---|---|
| Scope | Product safety, performance, certification marks | Financial sector cybersecurity program, governance |
| Industry | All industries, global product manufacturers | NY financial services licensees only |
| Nature | Voluntary third-party certification | Mandatory state regulation with enforcement |
| Testing | Lab testing, factory inspections, follow-ups | Annual pen tests, vulnerability scans, risk assessments |
| Penalties | Loss of certification, mark withdrawal | Fines, consent orders, license actions |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about UL Certification and 23 NYCRR 500
UL Certification FAQ
23 NYCRR 500 FAQ
You Might also be Interested in These Articles...
From Reactive Gatekeeper to Proactive Strategist: How Compliance Software Reshapes the Compliance Professional's Day
Discover how compliance software automates monitoring, delivers real-time insights, and transforms compliance pros from reactive gatekeepers to proactive strate
Beyond the Checkbox: Why Maturity Assessments are the Secret to Sustainable Compliance
Discover why maturity assessments beat binary compliance checks by uncovering hidden gaps and enabling continuous improvement for sustainable success. Read now!
You Guide on how to Start Implementing NIST CSF in Your Organization
Master NIST CSF implementation in your organization with this detailed guide. Learn core functions, key steps, best practices, and tips for cybersecurity succes
Run Maturity Assessments with GRADUM
Transform your compliance journey with our AI-powered assessment platform
Assess your organization's maturity across multiple standards and regulations including ISO 27001, DORA, NIS2, NIST, GDPR, and hundreds more. Get actionable insights and track your progress with collaborative, AI-powered evaluations.
Check out these other Gradum.io Standards Comparison Pages
ENERGY STAR vs ISO 45001
ENERGY STAR vs ISO 45001: Compare energy efficiency certification & OH&S management. Boost performance, cut costs/emissions, ensure safety—discover key differences now!
NIS2 vs ISO 45001
Discover NIS2 vs ISO 45001: Contrast EU cybersecurity's strict reporting, fines up to 2% turnover with OH&S risk mgmt, leadership. Ensure compliance mastery now!
GDPR vs HIPAA
Discover GDPR vs HIPAA: EU privacy gold standard vs US health data shield. Compare scopes, fines up to 4% turnover, rights & enforcement. Master global compliance now!