The New DFS Cybersecurity Regulation: What Every Attorney Should Know

Production Date: April 28, 2017 Practice Areas: Business, Corporate, & Securities Law and Privacy & Cybersecurity Estimated Length: 3637 minutes


$ 59 Business, Corporate, & Securities Law and Privacy & Cybersecurity In Stock

Business technology has been exploding in recent years, and so has the cyber risk that comes with it. As these changes accelerate, the law has struggled to keep up.

On March 1, 2017, the first-of-its-kind mandatory state cybersecurity regulation took effect via the New York State Department of Financial Services (DFS). The Cybersecurity Requirements for Financial Services Companies (23 NYCRR § 500) creates mandatory risk management and security regulations for companies in banking, insurance and financial services and brings with it a series of security-related requirements (including reporting requirements beyond data breaches).

At first glance, the regulation may appear limited to the banks, insurance and financial services companies regulated by DFS, but its third party provisions tell a different story. 

What effect will the cybersecurity regulation have beyond the companies regulated by DFS? How does it alter the cyber law landscape? And for attorneys outside of New York, how might the regulation serve as a bellwether for changes nationwide?

Learning Objectives:

  1. Identify who is covered by the cybersecurity regulation

  2. Recognize who else can be affected

  3. Comprehend the regulation’s core requirements (and benefits)

  4. Appreciate potential downstream effects

  5. Understand counsel’s role in compliance

  6. Anticipate potential changes on the national scene augured by the DFS Regulation

Karen K.
Gansevoort, NY

This presenter was spot on, time efficient, and content rich! I have read up on this new cyber reg a lot, and have attended many webinars/talks on it -- still learned many things from Scott Aurnou on this CLE program. Thank you!

Amy E.
Weston, FL

Very thorough, interesting and informative.

Michael L.
Coral Springs, FL

Excellent and informative presentation

Harriet B.
Orlando, FL

Good presenter. Very clear and concise.

L. Frank C.
West Palm Beach, FL

Excellent presenttion

Thomas G.
Jacksonville, FL

The presenter was excellent.

Christopher B.
Lancaster, NY

This was an excellent presentation on a topic that is not very well known. The written materials were very helpful.

Andrea W.
Orlando, FL

Very good speaker. Very informative.

Ruth C.
New York, NY

Excellent presenter

Diana K.
Oceanside, NY

Very helpful and well structured.

Joseph L.
Casselberry, FL

VERY Competent Presenter, Encyclopedic. What a minefield if you don't specialize.

Robert M.
lakeland, FL

Excellent presentation regarding cyber security issues

Keith M. F.
Riverside, CT