COVID-19
NYDFS Seeks Assurances from Regulated Entities in the Wake of COVID-19
The New York Department of Financial Services (“NYDFS”) has issued a series of Industry Letters requiring regulated institutions to submit information regarding plans to manage risks associated with the novel coronavirus (“COVID-19”). The Letters request descriptions of the entities’ planned responses to a variety of threats posed by COVID-19, including heightened cybersecurity risks.
The four Industry Letters issued by the NYDFS are directed to various regulated entities and require responses regarding the entities’ prospective responses to COVID-19. Among the required responses are those regarding the regulated entities’ strategies to address specific cybersecurity-related risks, including:Continue Reading NYDFS Seeks Assurances from Regulated Entities in the Wake of COVID-19