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The increasing frequency of cyber incidents has significantly elevated the threats to financial services companies, and as a result, regulators have sharpened their focus on cybersecurity preparedness.
Financial services regulators at both the state and federal level are now focused on the ability of these organizations to defend against cyber risks and to ensure they have the necessary policies and technical safeguards in place.
The New York Department of Financial Services (DFS) has led the way with the nation’s first cybersecurity regulation, and the DFS compliance requirements went into effect in August for banks, insurance companies, and other financial service institutions.
The SEC issued a risk alert in August outlining mitigation recommendations and highlighting observed deficiencies, with the Chairman recently saying that regulators and financial services firms should do more to educate investors about cyber threats.
Cybersecurity is also the top priority for the OCC, and one area sure to receive attention is financial institutions’ relationships with third-party vendors.
This exclusive roundtable will bring together a panel of experts to discuss the evolving cyber landscape and pragmatic approaches for meeting current requirements and preparing for new ones.Register