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Amendments to NYDFS cybersecurity regulations: What you need to know

The New York State Department of Financial Services (DFS) has proposed an amendment to its 2017 Cybersecurity Regulation (also known as 23 NYCRR Part 500). The 2017 regulation was one of the first of its kind and served as the model for many other regulations nationally and internationally. The proposed amendment would significantly expand the requirements that covered entities need to follow.