New York’s powerful Department of Financial Services (DFS) upended cybersecurity regulation with its new and sweeping “Cybersecurity Requirements for Financial Services Companies,” which took effect on March 1, 2017. But is the financial industry ready and equipped to comply with this detailed regulation? According to a recent survey published by Ponemon Institute and sponsored by Fasoo, the answer is an unequivocal “no.”
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A recently introduced bipartisan bill seeks to provide state and local authorities with additional resources to assist in the fight against cybersecurity threats. Last month, Senators John Cornyn (R-Tex.), Patrick Leahy (D-Vt.), and Ted Cruz (R-Tex.) introduced the National Cybersecurity Preparedness Consortium Act, which would authorize the Department of Homeland Security to work with non-profit consortia to assist state and local governments with their cybersecurity preparedness and response efforts. House Representative Joaquin Castro (D-Tex.) introduced a companion bill the same day.
Firing the opening salvo in its appeal of one of the most controversial data security decisions by the U.S. Federal Trade Commission in years, LabMD accused the agency of overstepping its authority and “destroy[ing] [the] small medical testing company” in the process.