The NY DFS Cyber Regulation: How to Comply and How to Respond to a Cyber Incident
In February 2017, the New York State Department of Financial Services ("DFS") released a final version of its regulation, to be effective on March 1, 2017, which would mandate cybersecurity standards for any entity licensed or similarly authorized by DFS to operate in New York, including insurance companies, agencies and brokerages, as well as certain banks, licensed lenders and money transmitters ("covered entities"). Covered entities would have 180 days, or until September 1, 2017, to comply with most parts of the regulation.
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