NY Financial Services Department Finalizes "First-in-Nation" Cybersecurity Rules
The New York Department of Financial Services ("DFS") adopted the final version of its "first-in-nation" cybersecurity rules (see previous coverage). Generally, the rules require a wide range of insurance, banking and financial services companies to adopt robust cybersecurity programs in order to protect sensitive and confidential data from theft or harm by cybercriminals.
In a related memorandum, Cadwalader attorneys Joseph Facciponti, John Moehringer, Howard Wizenfeld and Alejandra Contreras outline how the revised cybersecurity rules clarify notice and recordkeeping requirements and provide new exemptions to certain types of entities.
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