NY regulator urges firms to comply with cybersecurity regulation
Financial Services Superintendent Maria T. Vullo today reminded all entities regulated by the New York State Department of Financial Services (DFS) that they have to be in full compliance with the cybersecurity regulation by March 1, 2019.
Let’s recall that New York’s cybersecurity regulation became effective March 1, 2017. DFS, however, offered a two-year timeline for implementation of the regulation’s requirements, with a final compliance deadline of March 1, 2019. The final step in the implementation timeline requires regulated entities that use third-party providers to put in place policies and procedures ensuring the security of information systems and nonpublic information accessible to, or held by, such providers.