Cassandre Coyer reports:
As another cybersecurity compliance deadline hits in New York, the impact may be most deeply felt by smaller companies—as well as vendors and other businesses outside the financial sector that technically aren’t within scope of the regulation.
The New York Department of Financial Services’ (NYDFS) latest Cybersecurity Regulation amendments go into effect Thursday for financial, banking, and insurance entities, and they’re among the most technical and granular requirements yet.
Some of the amendments call for mature in-house cyber teams, reliable third-party vendor solutions, as well as technology and process investments, cyber attorneys said. While most big companies have a head-start on compliance, many smaller businesses and vendors to the largest companies face a more uphill implementation.
Read more at Bloomberg Law.