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HL Chronicle of Data Protection Privacy & Information Security News & Trends

Tag Archives: cyber initiative

Posted in Cybersecurity & Data Breaches, Financial Privacy

A Guide to NYDFS Cybersecurity Regulations’ August 28 Implementation Deadline

The first of several implementation deadlines in connection with the New York State Department of Financial Services’ cybersecurity regulations occurs this month, on August 28. In this post, we provide an overview of the implementation requirements to assist covered entities in preparing for the upcoming deadline.

Posted in Cybersecurity & Data Breaches

The “Final Final” is Here: NYDFS Cybersecurity Regulations

As Hogan Lovells previously reported, the New York State Department of Financial Services has launched a significant initiative to impose detailed cybersecurity requirements on covered financial institutions. On February 16, NYDFS issued its Final Rules, following the initial proposed rules published in September 2016 and two rounds of feedback via industry complaints and public comment. The Final Rules set forth requirements for a risk-based approach to cybersecurity, and include expectations for reporting on cybersecurity risks and events to senior management and NYDFS.

Posted in Cybersecurity & Data Breaches

New York Department of Financial Services Cybersecurity Rules Revised and Delayed

The New York Department of Financial Services just issued major revisions to the cybersecurity regulations for financial institutions that were due to come into effect on January 1, 2017. To allow covered institutions more time to implement the rules, the effective date will now be March 1, 2017, with a series of staggered implementation dates beyond this. There are several notable substantive changes in the revised rules.