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ARTICLE · 27 JANUARY 2023

Cybersecurity: How The New NYDFS Regulation Would Impact Large Companies

Frankfurt Kurnit Klein & Selz PC
Frankfurt Kurnit Klein & Selz PC
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Frankfurt Kurnit Klein & Selz PC

Frankfurt Kurnit Klein & Selz PC

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This is the fifth post in a series of blog posts that analyze certain major proposed changes in the New York Department of Financial Services ("NYDFS") Cybersecurity Regulation.

United StatesTechnology

This is the fifth post in a series of blog posts that analyze certain major proposed changes in the New York Department of Financial Services ("NYDFS") Cybersecurity Regulation. If you missed them, our other posts – covering changes to risk assessments, policies and procedures, the role of the CISO, and board level impacts – are here, here, here and here.

A new definition. The proposed regulation redefines large or "Class A" companies under section 500.1(c) as: companies with over 2,000 employees (which includes affiliates and without regard to location) or companies with one billion in annual gross revenue (which includes affiliates and without regard to location) in each of the past two years.

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www.fkks.com

This post first appeared in Frankfurt Kurnit's Focus on the Data blog (www.focusonthedata.com). It provides general coverage of its subject area. We provide it with the understanding that Frankfurt Kurnit Klein & Selz is not engaged herein in rendering legal advice, and shall not be liable for any damages resulting from any error, inaccuracy, or omission. Our attorneys practice law only in jurisdictions in which they are properly authorized to do so. We do not seek to represent clients in other jurisdictions.

Originally published by the New York Legal Ethics Reporter

www.fkks.com

This alert provides general coverage of its subject area. We provide it with the understanding that Frankfurt Kurnit Klein & Selz is not engaged herein in rendering legal advice, and shall not be liable for any damages resulting from any error, inaccuracy, or omission. Our attorneys practice law only in jurisdictions in which they are properly authorized to do so. We do not seek to represent clients in other jurisdictions.

www.fkks.com

This alert provides general coverage of its subject area. We provide it with the understanding that Frankfurt Kurnit Klein & Selz is not engaged herein in rendering legal advice, and shall not be liable for any damages resulting from any error, inaccuracy, or omission. Our attorneys practice law only in jurisdictions in which they are properly authorized to do so. We do not seek to represent clients in other jurisdictions.

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