Joseph Simon and Jeffrey Fowler Present to the Long Island Banks Compliance Association
February 15, 2017Joseph D. Simon and Jeffery M. Fowler, attorneys in Cullen and Dykman’s banking practice area, made a presentation to the Long Island Banks Compliance Association on February 15, 2017 on New York State’s new cybersecurity regulation.
The presentation addressed the New York State Department of Financial Services’ cybersecurity regulation which is scheduled to take effect on March 1, 2017. The regulation imposes significant new requirements on banks and other entities regulated by the Department. The requirements include the obligation to establish a cybersecurity program and a cybersecurity policy, as well as to file an annual certification with the Department regarding the institution’s compliance with the regulation. New York is the first state to adopt such requirements.
The Long Island Banks Compliance Association is an organization of compliance officers from over 40 institutions in New York and Long Island.
Mr. Simon and Mr. Fowler represent banks and credit unions across New York State on regulatory, compliance, contractual and general legal matters.