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Breaking News: Much Ado About 'Minimum Standards' for DFS Cybersecurity Regulation

The New York State Department of Financial Services (DFS) made headlines on by announcing a 'first-in-the-nation,' comprehensive cybersecurity regulation, which will mandate 16 'minimum standards' for the 4,000+ institutions operating under DFS jurisdiction. The regulation was released on Sept. 28.

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Editor’s Note: On Sept. 13, 2016, New York Governor Andrew Cuomo announced New York State Department of Financial Services Proposed 23 NYCRR 500 ‘Cybersecurity Requirements for Financial Services Companies.’ The proposed regulation were published on Sept. 28, and this article has been’updated with any changes made after the draft release in conjunction with Mayor Cuomo’s announcement.’

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