New York Governor Cuomo Announces First-In-The-Nation Cybersecurity Regulation Protecting Consumers And Financial Institutions From Cyber-Attacks To Take Effect March 1 - Regulation Protects Consumer Data And Financial Systems From Terrorist Organizations And Other Cyber Criminals - Regulated Financial Institutions Must Establish And Maintain A Cybersecurity Program To Protect Consumers And The Industry - Regulation Emphasizes Compliance Culture At Top Levels Of The Institution

Governor Andrew M. Cuomo today announced the first-in-the-nation cybersecurity regulation to protect New York’s financial services industry and consumers from the ever-growing threat of cyber-attacks will take effect on March 1, 2017. The final regulation requires banks, insurance companies, and other financial services institutions regulated by the Department of Financial Services to establish and maintain a cybersecurity program designed to protect consumers’ private data and ensure the safety and soundness of New York’s financial services industry.