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New York Regulations Heighten Need for Due Diligence and Cyber Insurance Coverage

Cybersecurity rules from the New York Department of Financial Services (DFS) went into effect on March 1 and now banks and insurers are faced with an increasing level of potential legal exposure for data breaches. This...more

NYDFS Cybersecurity Regulations Compliance Guide: Applicability, Exemptions and Penalties

As discussed in our March 1, 2017 update,1 the New York Department of Financial Services ("NYDFS") issued final regulations that require New York banks and insurance companies, as well as other financial services companies...more

New York's New Cybersecurity Rules: Will DFS Rule the Financial Services Cyberworld?

This month, the long-gestating regulation from the New York Department of Financial Services (DFS) mandating that extensive cybersecurity measures be taken by New York-licensed insurance companies and banks, as well as other...more

Blockchain - a revolution for the insurance sector with some risks

Blockchain is “the most important invention since the Internet itself” according to Marc Andreessen. And there is no doubt that there are huge potentials for the insurance sector to exploit such technology, but as any new...more

New Cybersecurity Requirements for New York Financial Companies

The New York Department of Financial Services has new cybersecurity regulations “designed to promote the protection of customer information as well as the information technology systems of regulated entities [financial...more

"Privacy & Cybersecurity Update - February 2017"

In this edition of our Privacy & Cybersecurity Update, we look at a series of recent court rulings regarding standing in privacy cases, most of which suggest plaintiffs will continue to have a difficult time establishing...more

New York Department of Financial Services Cybersecurity Regulations Take Effect | Publications

PDF Version New cybersecurity-related regulations issued by New York state regulators took effect March 1, 2017. The rules, which directly impact all entities regulated by the New York Department of Financial Services (such...more

New York DFS Finalized Cybersecurity Regulations Go Into Effect March 1, 2017

On February 16, 2017, the New York State Department of Financial Services (DFS) announced the final version of the “first-of-its-kind” cybersecurity regulations governing financial institutions, insurance companies, and other...more

New York's Far-Reaching Cybersecurity Law Takes Effect March 1 - Are You Ready?

New York’s Department of Financial Services Cybersecurity regulation became effective March 1. According to the press release issued with the regulation, the regulation is intended to require banks, insurance companies and...more

New York Department of Financial Services Finalizes Cybersecurity Proposal

On February 16, 2017, the New York Department of Financial Services (the “DFS”) released a final version (the “Final Regulation”) of its proposed regulation, previously released in an earlier revised form on December 28,...more

New York State Releases Final “First-In-Nation” Cybersecurity Rules

The New York Department of Financial Services (“DFS”) recently released the much-anticipated final version of its “first-in-nation” cybersecurity rules that it first announced in the fall of last year. The rules require a...more

NYS Department of Financial Services Cybersecurity Regulation Goes Live: Now What?

March 1, 2017 marks the effective date of the New York State Department of Financial Services (NYDFS) Cybersecurity Requirements for Financial Services Companies (the Rules). We previously reported on these emerging standards...more

New York Financial Services Cybersecurity Regulations Go Into Effect on March 1st

We have previously reported about the upcoming New York Financial Services Cybersecurity Regulations. On February 16, 2017, Governor Andrew M. Cuomo announced that “the first-in the-nation cybersecurity regulation to protect...more

The “Final Final” is Here: NYDFS Cybersecurity Regulations

As Hogan Lovells previously reported, the New York State Department of Financial Services (NYDFS) has launched a significant initiative to impose detailed cybersecurity requirements on covered financial institutions. On...more

NY DFS Cybersecurity Regulations Take Effect March 1, 2017

We previously reported on the New York Department of Financial Services’ proposed cybersecurity regulations. During the public comment period, the DFS received over 150 comments. In response, the DFS announced on December 28,...more

The New York Department of Financial Services Issues Its Final Cybersecurity Regulation

On February 16, 2017, the New York Department of Financial Services (“DFS”) issued the final version of its cybersecurity regulation. The regulation, which has seen several iterations since it was first proposed in September...more

DFS Final Cyber Regulation: Accountability at the Top

Over the last few months, the New York Department of Financial Services (“DFS”) cybersecurity regulation has undergone multiple revisions. But late last week, DFS issued its final regulation, which will go into effect on...more

Final DFS Cybersecurity Regulation Issued

New York’s Department of Financial Services issued its final Cybersecurity Regulation last night with an effective date of March 1, 2017. ...more

New York State Department of Financial Services Cybersecurity Regulation Poised to Reshape Existing Regulatory Landscape

In late December, New York State’s Department of Financial Services (“DFS”) released its revised proposed cybersecurity regulation (the “DFS Rule”). While the revisions pare back some of the DFS Rule’s original requirements...more

Mark Your Calendars: NY Cybersecurity Regulations to Go into Effect

A covered entity will need to arrange for someone to perform the CISO function, dedicate resources to conduct periodic risk assessments, develop and implement policies and procedures, and retain appropriate personnel and...more

NY DFS Proposed Cybersecurity Regulations Revised and Implementation Delayed

We previously reported on the New York Department of Financial Services’ proposed cybersecurity regulations. During the public comment period, the DFS received over 150 comments. In response, the DFS announced on December 28,...more

New York Department of Financial Services Revises Proposed Cybersecurity Rule

The New York Department of Financial Services (NYDFS) recently issued a revised proposed regulation seeking to add its own mandate of cybersecurity requirements to those already in existence for banks, insurance companies and...more

New York State Revises “First-In-Nation” Cybersecurity Rules

The New York Department of Financial Services (“DFS”) recently issued a revised version of the cybersecurity rules that it first announced in the fall of last year. The rules apply to a wide range of insurance, banking, and...more

New York Department of Financial Services Issues Updated Proposed Cybersecurity Regulation

On December 28, 2016, the New York State Department of Financial Services (“DFS“) announced that it has updated its proposed first-in-the-nation cybersecurity regulation. The proposed regulation, which will be effective March...more

Although Delayed, New York's Aggressive Cybersecurity Law Expected to Affect Financial Services and Insurance Firms

The regulatory environment for cybersecurity is rapidly changing, and state legislatures are not waiting for Congress to act. On December 28, 2016, the New York State Department of Financial Services ("NYDFS") revised a...more

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