Analysis

NY Cybersecurity Rules Will Spur Action But Not Uniformity

By Allison Grande (March 9, 2017, 10:26 PM EST) -- Federal banking regulators, insurance commissioners and states from Connecticut to California will likely take up the mandates of a trailblazing cybersecurity regulation that recently took effect in New York. But they may be reluctant to hew too closely to New York's rules, which many consider to be overly stringent, even as they are under pressure to act in the face of mounting cyberthreats.

New rules developed by the New York Department of Financial Services, which went into effect on March 1, require banks, insurers, money businesses and regulated virtual currency operators to fortify their cybersecurity protocols by putting detailed data security...

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