MasterCard Exec, Others Urge Flexible Cybersecurity Regime

Law360, New York (October 14, 2016, 8:35 PM EDT) -- A MasterCard executive and other cybersecurity experts on Friday cautioned regulators against following the lead recently set by a New York banking authority and instituting proscriptive cybersecurity rules that would quickly become irrelevant, saying that a regime akin to a flexible industry-driven framework rolled out two years ago provided a better way forward.

During a panel at a Women Leaders in Cybersecurity symposium hosted by New York University's Center of Cybersecurity, executives from MasterCard Inc. and Goldman Sachs Group Inc., as well as former government officials who are now in the private sector, explored the complex regulatory landscape that faces business...

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