Purpose and Background of the GLBA - The Gramm-Leach-Bliley Act (“GLBA”), also known as the Financial Services Modernization Act of 1999, is a federal statute enacted by Congress in 1999 that requires financial...more
• Disclosures must inform investors about material cybersecurity risks and incidents, including addressing material cybersecurity risks for cyber-attacks that have not yet occurred. • Comprehensive policies and procedures...more
• NAIC recently adopted an Insurance Data Security Model Law that follows the risk assessment-based approach of the New York DFS Cybersecurity Regulation. This signals the growing influence of the New York Regulation,...more
Today, the New York Department of Financial Services (DFS) released a revised version of the proposed cybersecurity regulations that it first issued in September. According to a press release issued by DFS Superintendent...more