By

Sandra Lynne Fryhofer (Summer Associate)

27 August 2018

NYDFS Cybersecurity Regulation: Additional Cybersecurity Program Safeguards Due September 4, 2018

Companies subject to New York’s Cybersecurity Regulation are acting quickly to finalize their compliance obligations as the fifth “due date,” September 4, 2018, quickly approaches.

By September 4, 2018, Covered Entities must ensure that their cybersecurity programs have in place certain additional safeguards:

  • an audit trail that shows detection of and response to material cybersecurity events;
  • written security procedures, guidelines, and standards for the development of in-house applications and for the evaluation and testing of externally developed applications;
  • data retention policies and procedures for the disposal on a periodic basis of nonpublic information no longer necessary for business operations;
  • risk-based policies, procedures, and controls to monitor the activity of authorized users and detect unauthorized access; and security controls, such as encryption, to protect non-public business relations and personal information.

Notably, for this upcoming deadline, Covered Entities that have received a limited exemption must still comply with the regulatory provision regarding data retention policies and procedures for the periodic disposal of nonpublic information. (more…)

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