Financial Firms In New York Face New Cybersecurity Law

On March 1, new regulations go into effect in New York State, requiring that all regulated financial services institutions have a cybersecurity program in place, appoint a Chief Information Security Officer, and monitor the cybersecurity policies of their business partners. This first thing that firms need to do is conduct a comprehensive risk assessment, since that's the starting point for deciding how to deal with many of the previous regulations.

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