New York Department of Financial Services Issues Millions of Dollars in Penalties, Signaling Increased Cybersecurity Enforcement | Akin Gump Strauss Hauer & Feld LLP
To embed, copy and paste the code into your website or blog: On April 14, 2021, the New York Department of Financial Services (DFS) announced it settled an enforcement action against National Securities Corporation (“National Securities”) related to claims under the Cybersecurity Regulation, 23 NYCRR Part 500. The Consent Order imposes a $3 million penalty, various remediation measures and represents a flurry of cybersecurity activity by the regulator in the first quarter of 2021. Over the last two months DFS settled two enforcement actions and issued amended charges against First America...