News & Press: ACEDS News

NYS New Cyber Rules for Finance Softened

Tuesday, January 3, 2017   (0 Comments)
Posted by: Mary Mack
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New York State Department of Financial Services (NYDFS) has been driving changes in cyber behavior at financial firms.  A report by Hogan Lovells brings some relief in the form of a short delay, stating that the effective dates of the new regulations have been extended from January 1, 2017 to March 1, 2017. The report details other key changes which include not mandating a CISO, but instead mandating that the function be covered. In addition, reporting frequency has been reduced and there is more grey area in some of the black and white rules.  

The Hogan Lovells team shared a  
comprehensive report on the new expectations.

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