ALBANY - Beginning Thursday, banking and insurance companies regulated by the New York Department of Financial Services had to file their first annual certification of compliance with the department’s cybersecurity regulations, which are expected to have national and global impact.
Feb. 15 marked the second major deadline for the state agency’s cybersecurity regulations, which requires banking and insurance companies doing business in New York to comply with groundbreaking rules aimed at deterring cyberattacks. A board member or senior officer at thousands of DFS-regulated entities has to certify that the company is in compliance with the security requirements established by the department, and must submit certification annually from now on.
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