Compliance and Regulatory Consulting
Local and global compliance expertise for the financial services industry.Compliance and Regulatory Consulting
There is no shortage of guidance and frameworks for dealing with the risk of data breaches and fending off would-be hackers. What there hasn’t been, until now, is an industry-wide set of rules comparable to what New York’s Department of Financial Services has in store for financial institutions that fall under its oversight. The agency’s regulations will impose a host of new security, personnel, attestation, and reporting requirements.
The NYDFS requirements further position cyber-security as a business imperative, according to Erik Laykin. They have taken cyber-security from an IT function and placed it right in the middle of your business. It is now a cornerstone issue that needs to be addressed with visibility at the board-of-director level and throughout the organization.