NYDFS proposes significant cybersecurity regulation amendments
November 28, 2022
On November 9, 2022, the New York Department of Financial Services (NYDFS) officially proposed changes to its cybersecurity regulation and opened a 60-day public comment period. NYDFS had issued a “pre-proposed” version of the changes in July of this year, which we had summarized here. NYDFS retained many of those earlier proposed changes, and made a few clarifications, but has made some significant changes in this version. Unless otherwise indicated, most changes would take effect 180 days from NYDFS’ adoption of the final regulations (which will be sometime after the close of the comment period on January 9, 2023, so no earlier than July 8, 2023).