Lessons From Recent DFS Cybersecurity Enforcement Actions
Today is April 15, the date by which all entities regulated by the New York State Department of Financial Services must submit a statement to the department, certifying that they complied with the state's financial services cybersecurity requirements regulation last year. It is therefore fitting that I'm writing about two enforcement actions the department recently announced. They give some clues as to the approach the department is taking toward enforcing the regulation.Neither action involved an insurance agency or brokerage:Two very different organizations with millions of dollars in assets. Their day-to-day operations are far removed from those of the typical Big I New York member who has…