The New York Department of Financial Services (NYDFS) 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.
Click here to learn more about the major changes to the proposed rules, timing and implementation details, and how to prepare for the new requirements as well as other related cybersecurity developments.
For more details on the NYDFS cybersecurity regulations for financial institutions, please see our previous blog post.