NYDFS Issues Updated Cybersecurity Regulation

The New York Department of Financial Services (NYDFS) recently issued an updated version of its proposed cybersecurity regulation, โ€œCybersecurity Requirements For Financial Services Companiesโ€ (23 NYCRR 500). The updated proposed regulation reflects several of the comments offered during the initial public notice and comment period that concluded on November 14, 2016. Some of the most noteworthy changes in the revision are as follows:
  • Section 500.04 โ€” NYDFS clarified that while a Covered Entity must designate a qualified individual to perform the responsibilities

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