Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
Qualified Mortgage - Qualified Residential Mortgage
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Deposit Insurance
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Tuesday, December 27, 2016

New York to Revise Controversial Cybersecurity Proposal

The New York Department of Financial Services will revise a set of proposed cybersecurity regulations amidst numerous objections from bankers, according to reports.

The original proposal – the first of its kind from a state regulator – would have required New York-chartered financial institutions to establish a cybersecurity program with written policies and procedures, designate a chief information security officer and meet a number of additional requirements including annual testing, risk assessments and periodic reviews of access privileges. The department did not specify what the revisions to the proposal would entail.

NYDFS received significant pushback on the proposal from bankers and other industry stakeholders, including ABA. Many cited the proposal’s “one-size-fits-all” approach, noting that requirements do not take into account variations in the business models, IT system structures or risk profiles of the institutions they affect. Other concerns include a lack of harmony between the proposal and federal regulations, onerous reporting requirements and the high costs of compliance.

The department is expected to issue its revisions to the proposal on Dec. 28 with a 30-day comment period. The revised rules would be effective March 1.

Read ABA’s comments on the original proposal.


RoseL said...

Well, you see, nowadays cyber-security is quite a big problem. There are a lot of hackers who want to find some mistakes in your system and hack it. In this case you can lose a lot of important data. That is exactly why we here at professional dissertation writing service improve our security system every year in order to save all the data we have. Thank you for sharing!

phil lighbothe said...

Visit my page where you can find apostrophe literature!

Andrew Harret said...

If you get a full prompt, read it carefully. The prompt will provide you with the topic, the context and the purpose of your synthesis essay. Make sure you understand what you are required to do: examine certain factors, evaluate the issue or provide a recommendation. The better you understand the prompt, the higher are your chances of getting the desired grade. Learn how to conclude a synthesis essay from our full guide.

KerryWin89 said...

Research is finding answers to questions: how many teeth does a killer whale have—Google will give the number 52. Real research deals with deeper and broader issues than finding isolated facts. Students must learn to think of research as investigating profound and complex issues.

Post a Comment

Please read our comment policy before making a comment.