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SEC Issues First-Ever Penalties for Deficient Cybersecurity Risk Controls | Holland & Knight LLP

SEC Issues First-Ever Penalties for Deficient Cybersecurity Risk Controls | Holland & Knight LLP
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NYDFS Fines Residential Mortgage Services $1.5 Million For Failures To Comply With New York's Cybersecurity Regulation - Technology

NYDFS Fines Residential Mortgage Services $1.5 Million For Failures To Comply With New York's Cybersecurity Regulation - Technology
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New York State Department Of Financial Services Announces Cybersecurity Settlement With Mortgage Lender - Residential Mortgage Services Failed To Report A Cyber Breach Exposing New York Residents' Private Data

Date
03/03/2021
The New York State Department of Financial Services (DFS) announced today that Residential Mortgage Services, Inc. (“RMS”) will pay a $1.5 million penalty to New York State for violations of the Cybersecurity Regulation, Part 500 of Title 23 of the New York Codes, Rules, and Regulations.
“It is of paramount concern to protect all consumers as cyber threats continue to surge during a vulnerable time, said Superintendent of Financial Services Linda A. Lacewell. DFS will continue to take nation-leading actions to ensure that our licensees fulfill their cybersecurity duties, safeguarding the private data of their New York customers, and all of the customers they serve, no matter where they reside. ....

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Judge strikes down use of secret subpoenas in State Police internal probes

Judge strikes down use of secret subpoenas in State Police internal probes
Ruling undermines agency s practice of sifting through personal records of employees
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New York State Police Superintendent Keith Corlett. (Will Waldron/Times Union)Will Waldron/Albany Times Union
ALBANY The long-standing practice of state agencies to secretly use their administrative subpoena authority to sift the personal records of employees in internal investigations was struck down by a state Supreme Court justice in a ruling that found the State Police were not adhering to the provisions of Public Officers Law.
The ruling by state Supreme Court Justice Patrick J. McGrath was handed down in a case filed in December 2019 by the New York State Police Investigators Association, which challenged the State Police practice of using subpoenas to access the smartphone, personal email and other private records of employees without their knowledge during internal inve ....

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Insurance Journal's Most Noteworthy Topics of 2020: East Region

Insurance Journal’s Most Noteworthy Topics of 2020: East Region
From questions over business interruption policy coverage spurred by the COVID-19 pandemic to property damage due to civil unrest, as well as significant court cases and state regulatory actions, it was a busy year for East region insurers.
Here’s a look back on the most noteworthy topics covered in Insurance Journal’s East region this year:
Business Interruption Insurance
As the COVID-19 pandemic claimed much of East region readers’ attention this year, a perhaps lesser known type of insurance moved into the spotlight, becoming familiar to many: business interruption (BI) insurance. ....

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