United States:
New York Governor Announces Cybersecurity Regulation To Protect Consumers And Financial Institutions
23 November 2016
by
Daniel J. McLoon
,
Mauricio Paez
,
Kevin Lyles
,
Todd McClelland
,
Jeff Rabkin
,
Adam Salter
,
Michiru Takahashi
,
Undine Von Diemar
,
Olivier Haas
,
Jörg Hladjk
,
Richard Johnson
,
Anand Varadarajan
,
Nicole Perry
and
Alexa Sendukas
Jones Day
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On September 13, the New York governor announced a regulation requiring banks,
insurance companies, and other financial services institutions to
"establish and maintain a cybersecurity program designed to
protect consumers and ensure the safety and soundness of New York
State's financial services industry." Regulated companies
would have to annually certify compliance and designate an internal
cybersecurity officer. The regulation is subject to a 45-day notice
and public comment period before final adoption.
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