On Friday, August 5, 2022, Eric Dinallo, Luke Dembosky, Avi Gesser, Erez Liebermann, and Charu Chandrasekhar participated in a webcast on the proposed draft amendments to the NYDFS cyber rules. The webinar examined the draft amendments and the implications they might have for insurance coverage corporations and different NYDFS-regulated entities. The dialogue lined:
- New governance, know-how, and notification-related obligations proposed beneath the Draft Amendments, together with extra onerous obligations for big lined entities resembling annual impartial cybersecurity audits and weekly vulnerability assessments, obligatory 24-hour notification for cyber ransom funds, elevated expectations for board experience, and extra restrictions on privileged accounts;
- Alternatives for participation in the course of the remark interval and sure pushback from lined entities; and
- Sensible steps lined entities can take to mitigate regulatory and reputational dangers.
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To learn our latest Knowledge Weblog put up on the NYDFS Proposed Guidelines, click on here.
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Eric R. Dinallo is Chair of the Debevoise insurance coverage regulatory follow and a member of its Monetary Establishments and White Collar & Regulatory Protection Teams in New York. He will be reached at email@example.com.
Luke Dembosky is a Debevoise litigation associate primarily based within the agency’s Washington, D.C. workplace. He’s Co-Chair of the agency’s Knowledge Technique & Safety follow and a member of the White Collar & Regulatory Protection Group. His follow focuses on cybersecurity incident preparation and response, inside investigations, civil litigation and regulatory protection, in addition to nationwide safety points. He will be reached at firstname.lastname@example.org.
Avi Gesser is Co-Chair of the Debevoise Knowledge Technique & Safety Group. His follow focuses on advising main corporations on a variety of cybersecurity, privateness and synthetic intelligence issues. He will be reached at email@example.com.
Erez is a litigation associate and a member of the Debevoise Knowledge Technique & Safety Group. His follow focuses on advising main companies on a variety of advanced, high-impact cyber-incident response issues and on data-related regulatory necessities. Erez will be reached at firstname.lastname@example.org
Charu A. Chandrasekhar is a litigation counsel primarily based within the New York workplace and a member of the agency’s White Collar & Regulatory Protection Group. Her follow focuses on securities enforcement and authorities investigations, inside investigations and complicated industrial litigation.