News & Analysis as of

Cybersecurity Framework

NAIC Cybersecurity Working Group Votes to Approve Insurance Data Security Model Law

by Carlton Fields on

The National Association of Insurance Commissioners (NAIC) Cybersecurity (EX) Working Group (Cybersecurity WG) approved Version 6 (Finalized) of its Insurance Data Security Model Law (Model) on August 7 at the NAIC Summer...more

DFS Cyber Regulation Countdown: Who Should Certify Compliance?

Companies subject to New York’s Department of Financial Services (DFS) new cybersecurity regulation should be preparing to comply with the first round of requirements by the upcoming August 28th deadline: enacting a...more

A Guide to NYDFS Cybersecurity Regulations’ August 28 Implementation Deadline

by Hogan Lovells on

As a follow-up to our previous reports (December 30, 2016 Alert; February 24, 2017 Alert) regarding the cybersecurity regulations issued by the New York State Department of Financial Services (NYDFS), we would like to remind...more

New Cybersecurity Rules for Colorado Investment Advisers and Broker-Dealers

by Snell & Wilmer on

Colorado has adopted new rules that add cybersecurity requirements for certain entities with Colorado securities licenses. The rules are from the regulatory agency the Division of Securities. It licenses securities...more

New Connecticut Insurance Department Bulletin on Data Security Requirements

by Polsinelli on

Connecticut Bulletin MC-23. The Connecticut Insurance Department issued Bulletin MC-23 on June 13, 2017. The Bulletin addresses certification and notice requirements for data security requirements applicable to TPAs and PBMs...more

New York’s New Cybersecurity Regulations and its Impact on your Sensitive Health Information

by Farrell Fritz, P.C. on

Effective March 1, 2017, the New York State Department of Financial Services promulgated regulations to help protect against cybercriminals and their efforts to exploit sensitive electronic data. These cybersecurity...more

Connecticut Releases Cybersecurity Strategy

On July 10, 2017, Connecticut Governor Dannel P. Malloy released Connecticut Cybersecurity Strategy, that outlines seven key principles to assist with strengthening efforts to protect the state’s cybersecurity defenses for...more

The Top Eight Things You Should Be Doing to Protect Your Business from Cyber Threats

by Burr & Forman on

Cyber threats take many forms. The wide-spread WannaCry ransomware attack in May of 2017 highlighted how computer files could be held hostage in return for payment, while the Dyn denial of service in October of 2016...more

Municipalities Under Connecticut's New Cybersecurity Strategy

by Murtha Cullina on

On July 10, 2017, Governor Dannel Malloy, along with Chief Information Officer Mark Raymond and Chief Cybersecurity Risk Officer Arthur House, released Connecticut’s initial Cybersecurity Strategy. The goal of the...more

National Association of Corporate Directors Updates Cyber-Risk Oversight Handbook

by Hogan Lovells on

Earlier this year, the National Association of Corporate Directors (NACD) released an updated version of its Director’s Handbook on Cyber-Risk Oversight (Handbook). The updates add 16 pages of content to the previously...more

NYDFS Updates FAQs to Clarify Cybersecurity Regulations

by Ballard Spahr LLP on

The New York Department of Financial Services (NYDFS) recently updated frequently asked questions (FAQs) about its cybersecurity regulations, 23 NYCRR 500, to address four new issues. NYDFS published its initial set of FAQs...more

DFS Cyber Compliance Nightmare? Detailed survey results indicate compliance is far from reach

New York’s powerful Department of Financial Services (DFS) upended cybersecurity regulation with its new and sweeping “Cybersecurity Requirements for Financial Services Companies,” which took effect on March 1, 2017. But is...more

DFS Issues Additional Guidance for Cyber Regulation Compliance

New York’s Department of Financial Services (DFS) has issued additional guidance for compliance with the state’s sweeping cybersecurity regulation that went into effect earlier this year. Companies covered by the regulation...more

South Korea Joins APEC Cross-Border Privacy Rules System

by Hogan Lovells on

On Monday, June 12, South Korea became the latest country approved to officially join the Asia-Pacific Economic Cooperation’s (APEC) Cross-Border Privacy Rules (CBPR) system. It is the fifth APEC economy to participate in...more

NYS Cyber Regulation Countdown: Continuous Monitoring

In our series of posts leading up to the August 28th deadline for the first phase of requirements under New York’s cybersecurity regulation, the Patterson Belknap team looks at issues that institutions face as they implement...more

DFS Cyber Compliance Nightmare? New survey reports less than half of financial firms will meet deadline

A new survey by the Ponemon Institute reports that less than half of the financial institutions covered by New York’s sweeping new cybersecurity regulation say they will “likely” meet next February’s compliance deadline. And...more

NYS Cyber Regulation Countdown: “Risk Assessment” – Now or Later?

In our series of posts leading up to the August 28th deadline for the first phase of requirements under New York’s cybersecurity regulation, the Patterson Belknap team looks at issues that institutions face as they implement...more

Funds Talk: June 2017 - Incident Response Plans Form an Essential Part of Cybersecurity Frameworks

Cybersecurity has increasingly moved into the spotlight in recent years, with regulators and financial firms alike clambering to keep pace with rapidly changing demands as threats continue to evolve....more

Executive Order on Cybersecurity: Considerations for Business - A fuller picture emerges on how the Trump Administration’s first...

On May 11th, in the wake of a series of wide-ranging cyber breaches and attacks plaguing public and private sectors alike, President Trump signed a long-awaited Executive Order on Strengthening the Cybersecurity of Federal...more

Presidential Executive Order on Cybersecurity: No More Antiquated IT

On May 11, President Donald Trump issued his long-awaited Executive Order on cybersecurity, the ‘‘Presidential Executive Order on Strengthening the Cybersecurity of Federal Networks and Critical Infrastructure.’’ It had been...more

Ninety Days and Counting: NY Cyber Regulation’s First Deadline

Faced with an approaching August 28th deadline, the more than 3,000 financial institutions that do business in New York should be knee-deep in implementing the first wave of requirements under the State’s sweeping and...more

#MLWashingtonCyberWatch: The Cybersecurity Executive Order (at last)

Amid the flurry following former FBI Director James Comey’s firing last week, President Trump marked his 111th day in office on Thursday, May 11th by signing an executive order targeting national cybersecurity....more

NIST Plans To Examine Internet of Things (IoT) For Its Cybersecurity Framework

by Dentons on

The National Institute of Standards and Technology (NIST) is holding a Cybersecurity Framework Workshop this week at its headquarters in Gaithersburg, Maryland. The purpose of the workshop is to discuss issues related to its...more

White House Releases Cybersecurity Executive Order

by Davis Wright Tremaine LLP on

On May 11, 2017, the White House released its long-awaited Executive Order on cybersecurity (EO). The EO directs Executive Branch agencies to develop plans to assess and improve the cybersecurity of their own operations,...more

White House Signs New Cybersecurity Executive Order

by Dentons on

On May 11, 2017, President Donald Trump signed a new Executive Order on cybersecurity entitled Strengthening the Cybersecurity of Federal Networks and Critical Infrastructure. The new order is split up into three sections,...more

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Cybersecurity

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