New York Department of Financial Services Issues Millions of Dollars in Penalties, Signaling Increased Cybersecurity Enforcement
By EsqSocial Corporation 30/04/21
On April 14, 2021, the New York Department of Financial Services (DFS) announced it settled an enforcement action against National Securities Corporation (“National Securities”) related to claims under the Cybersecurity Regulation, 23 NYCRR Part 500. The Consent Order imposes a $3 million penalty, various remediation measures and represents a flurry of cybersecurity activity by the regulator in the first quarter of 2021. Over the last two months DFS settled two enforcement actions and issued...
By: Akin Gump Strauss Hauer & Feld LLP