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This regulation sets cybersecurity requirements for financial service entities that operate in New York State. With malicious actors using increasingly sophisticated attempts to breach systems and seize data, the amount of cybersecurity regulations will continue to snowball.
The general purpose of the regulation is to ensure that financial service entities do their due diligence to effectively protect their customers and information systems from cyber attacks.
If you fit any of the following criteria you qualify for a Limited Exemption. This doesn’t eliminate ALL of your compliance needs but it reduces your obligations.
Instructions on filing a notice of exemption.
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