How The New York Department of Financial Services Cybersecurity Regulation Works

How The New York Department of Financial Services Cybersecurity Regulation Works

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The New York Department of Financial Services released a set of regulations on February 16th, 2017. The Cybersecurity Regulation (23 NYCRR Part 500) places cybersecurity requirements on all covered financial institutions in the state. The rules were developed after two rounds of feedback from the industry and the public, outlining 23 sections that require covered institutions to measure their cybersecurity risks and build up plans to smartly address those risks.

How does The NYDFS Cybersecurity Regulation Work?

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The New York Department of Financial Services Cybersecurity Regulation requires covered organizations to enact a detailed cybersecurity plan, designate a Chief Information Security Officer (CISO), pass a comprehensive cybersecurity policy, and initiate and maintain a continuing reporting system for cybersecurity events.

NYDFS Cybersecurity Regulation Requirements:

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The new cyber security regulations from the New York Department of Financial Services make it mandatory for entities covered by the regulations to file by August 28, 2017. Noncompliant entities will face penalties. The Compliance Experts at CompCiti can help you file on time and implement a long-term, effective cyber security policy.

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Contact CompCiti today for a free needs assessment. They will explain to you what DFS compliance means, how it affects your organization, and how they can help you achieve full compliance. They can be your one-stop for all types of IT Solutions in NYC!

• Compciti Business Solutions Inc. • 261 West 35th Street, Suite 603 • New York, NY 10001 • Phone: (212) 594-4374 • Fax: (212) 594-6714 • https://compciti.com/contact/ Note: This content is created and provided by a third-party online content writer on behalf of Compciti, and is for commercial purposes only. Compciti does not take any responsibility on the accuracy of this content.