In a letter to other state and federal regulators, including the US Office of the Comptroller of the Currency and Federal Reserve Board of Governors, the NYDFS revealed details about its potential new cyber security regulations for the banks and insurance companies which fall under its jurisdiction. These regulations could include a requirement for institutions to notify companies of data breaches. “It is our hope that this letter will help spark additional dialogue, collaboration and, ultimately, regulatory convergence among our agencies on new, strong cyber security standards for financial institutions,” wrote Anthony Albanese, NYDFS’ acting superintendent.
Join Us On LinkedIn
Join the Cybersecurity and Incident Response Group on LinkedIn