New York Department of Financial Services Released New Guidance Addressing COVID-19 Related Cybersecurity Risks

Peter Marta, Paul Otto, and Timothy Tobin of Hogan Lovells write:

Continuing its focus on COVID-19’s impact on its regulated entities, on April 13, the New York Department of Financial Services (NYDFS) released new cybersecurity guidance in response to the COVID-19 pandemic. The guidance highlights the heightened cybersecurity risks from the current crisis and NYDFS’ expectations that its regulated entities address those risks as large portions of their workforce have shifted to remote working arrangements.

The new cybersecurity guidance provides recommendations for regulated entities to consider implementing to maintain robust compliance with the NYDFS Cybersecurity Regulation (23 NYCRR Part 500).

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