NY Life Settlement And Cybersecurity Compliance

Law360, New York (March 20, 2017, 5:05 PM EDT) -- Theodore P. Augustinos

Brian T. Casey

Thomas D. Sherman Life settlement providers and life settlement brokers licensed by the New York Department of Financial Services must take action immediately to meet the Sept. 1, 2017, compliance date of the new NYDFS cybersecurity regulation, which became effective March 1, 2017. The new regulation (Part 500 of Title 23 of the Official Compilation of Codes, Rules and Regulations of the State of New York) imposes new requirements on New York licensed life settlement providers, and life settlement brokers (among others regulated under the New York banking, insurance or financial services laws). Although the...

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