New York State: Banks and Insurance Providers – New Cyber-Security Standards

Effective March 1, 2017, all banks and entities providing insurance in New York State will be required to meet new, minimum cyber-security standards, and certify compliance each February 15 after internal risk assessments are performed.  While some larger entities may already meet these standards, many will not.  Entities which also engage in business in other states, such as California, or overseas in areas such as the EU, are expected to adopt best-industry security practices to assure compliance across all applicable jurisdictions, rather than employ different practices in different jurisdictions.  – Michael J. Feldman