Cyber security regulations are laws that govern the types of measures an organization must take to protect itself, its data, and its customers from cyber threats and data breaches..
New York's information security breach and notification law (also known as the SHIELD ACT, General Business Law Section 899-aa), requires notice to consumers who have been affected by Cybersecurity Incidents..
On July 26, 2023, the Securities and Exchange Commission (SEC) announced changes to registrants' reporting requirements in Forms 8-K and 10-K which now require registrants to disclose material "cybersecurity incidents" and annually disclose information about registrants' cybersecurity risk management procedures and .
On November 1, 2023, the New York State Department of Financial Services adopted the Second Amendment to its Cybersecurity Regulation, expanding a number of requirements imposed under its existing cybersecurity regime for cybersecurity governance, security practices, and notifications to DFS, among other requirements..
The adopted amendment holds DFS-regulated businesses and licensed entities accountable for implementing cybersecurity protections, and ensuring they maintain cyber defenses appropriate to their size, nature of business, and the type of data maintained, among other relevant considerations while continuing to foster .
If the exemption qualification status of a Covered Entity has changed, then the Covered Entity must notify DFS of that change as soon as reasonably possible through the DFS Portal.
After an initial Notice of Exemption is filed, it can be amended or terminated through the DFS Portal.
The amendment option should be used when exempt status changes, bu.
The Certification of Compliance is a critical governance pillar of the cybersecurity programs of all Covered Entities.
Prior to April 15th of each year, all Covered Entities must file a Certification of Compliance confirming their compliance with the Cybersecurity Regulation for the previous calendar year.
An entity or individual should only submit.
Superintendent of Financial Services Adrienne A.
Harris announced today that the New York State Department of Financial Services (DFS) proposed an updated cybersecurity regulation.
DFS’s original regulation, which DFS promulgated in 2017, established a regulatory model that is now used by both federal and state financial regulators.
The State is working to increase New York’s cybersecurity talent pool both to keep New York a preferred hiring destination and to meet the demand for cybersecurity personnel in the private sector and governments throughout the State, including:
These submissions should be made through the DFS Portal.
To ensure that filings are matched to the correct individual or entity, the Portal requires use of an identifying number when filing.
The identifying numbers are: NYS License number, NAIC/NY Entity number, NMLS number, or Institution number.
Please make sure to have your NYS license number av.
Covered Entities that qualify for an exemption must file a Notice of Exemption stating their current exempt status within 30 days of the determination that they so qualify.
To complete a Notice of Exemption, you must identify all exemptions for which you qualify. (More detailed information on exemptions can be found in the section titled Exemptions.
New York’s First-Ever Cybersecurity Strategy In New York’s first-ever cybersecurity strategy, Governor Hochul outlines her plan for ensuring that New Yorkers continue to reap the benefits of the digital age while remaining protected from digital threats.
With cyber-attacks on the rise, it is critical that our regulation keeps pace with new threats and technology purpose-built to steal data or inflict harm,” said Superintendent Harris.
