On March 1, 2018, the one year transition period within which banks, insurance companies, and other financial services institutions and licensees regulated by the New York Department of Financial Services (“Covered Entities”)  must have implemented a cybersecurity program ends. By March 1, the Covered Entities must be in compliance with the following requirements:

23 NYCRR

Among in-house counsel, 27% admit data breaches have occurred in their organization.

The Association of Corporate Counsel’s (ACC) Chief Legal Officers (CLO) 2015 Survey provides insight into the statistics and growing concern for CLOs and GCs of data breaches in their organizations.

According to the ACC, the 2015 Survey was completed by 1,289 individuals in