NYDFS tweak proposed cybersecurity regulations; start date pushed back to 1 March 2017

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Last September, TBG Security wrote a helpful blog article on the proposed cybersecurity regulations put forward by the the New York State Department of Financial Services (NYDFS).

The NYDFS aimed to have these new cybersecurity requirements (23 NYCRR 500) enforceable by 1 Jan 2017. However, last week, on the 28th of December, NYDFS issued the following press release, effectively delaying the launch date to March 1, 2017.  


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NYDFS propose new cybersecurity regulations, effective Jan 1 2017. Here’s what you need to know

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Last month, the New York State Department of Financial Services (NYDFS) put forward a proposed regulation designed to impose new rigorous cybersecurity requirements on banks, consumer lenders, money transmitters, insurance companies as well as some financial service providers in New York State.

The State has indicated that securing both New York’s financial services firms and its consumers is the main priority. The aim is to lower the risk posture in light of ...

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