NY Cybersecurity Rules to Require Financial Services Firms to Report Reasons for Noncompliance

New York Law Journal

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Eversheds Sutherland Counsel Al Sand discusses updated cybersecurity regulations from the New York State Department of Financial Services that will impact financial services firms, with some of the new rules coming into effect this month. Calling them “new concepts that are going to take some real time and attention,” Al encourages companies to work with their counsel to identify the necessary steps for compliance.

“It’s really having those conversations with the business, with internal stakeholders, about here’s what we need to do from a compliance standpoint, and how are we going to make this work…” he said.