The New York Department of Financial Services Releases Potential New Cybersecurity Rules

On November 9, Anthony Albanese, Acting Superintendent of the New York Department of Financial Services (NYDFS), sent a letter to the 18 members of the Financial and Banking Information Infrastructure Committee that outlines key regulatory proposals that NYDFS is considering as new regulations to increase financial sector cybersecurity defenses. The letter is written to “help spark additional dialogue, collaboration and, ultimately, regulatory convergence among on new, strong cyber security standards for financial institutions.”

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