NYSDFS Cybersecurity Regulations 23 NYCRR 500 - Effective March 1, 2017
Edith C. Tella
Lic. Real Estate Salesperson, Keller Williams NY Realty and Owner of Team Management Service LLC
Do you know what’s expected of you?
The NYS Department of Financial Services (NYSDFS) has issued 23 NYCRR 500 (effective March 1, 2017 with a 180 day transition period) which addresses the growing cybersecurity threat posed to financial systems and covered entities.
This regulation requires a number of items, such as implementing a cybersecurity program, policies on protecting NPPI, monitoring and testing of one’s cybersecurity posture, and annual training & designation, to name a few.
Each company is responsible to assess its specific risk profile and design a program that addresses its risks in a robust fashion. Senior management must take this issue seriously and be responsible for the organization’s cybersecurity program and file an annual certification confirming compliance with these regulations. A regulated entity’s cybersecurity program must ensure the safety and soundness of the institution and protect its customers. " and much more..... Learn more about 23 NYCRR 500
As a key service provider to Financial Institutions, you must also adhere to Federal and State privacy safeguards.
NYAMB Conference Program Update "NEW" Training Class Added Tuesday, May 16, 2017 | 2:10pm - 3:50pm at the NYAMB's 29th Annual Conference & Tradeshow, The Mansion on Broadway, White Plains, NY
This training was developed to prepare mortgage brokers, their employees, lenders, and title companies for the DFS cybersecurity Regulations effective March 1, 2017.
Come learn about which regulations apply to you, and critical administrative, physical and network controls to minimize the risk of a data breach and maximize your company’s compliance posture. Also learn about existing privacy requirements pursuant to: (i) Gramm-Leach Bliley Act; (ii) FTC Privacy Safeguard and Disposal Rule; and (iii) NYS Breach Notification Laws.
Topics to Include:
- Requirements for Large vs. Small Companies
- Policy and Procedures Testing
- Access Privileges
- Designated Company's Chief Information Security Officer (CISO)
- Penetration Testing
- Training & Monitoring requirements
- Reporting to NYSDFS
- and so much more...
For more information click here