The Fiduciary Wake-Up Call: Cybersecurity and Your Vendors
… York DFS Guidance Says The DFS recently released guidance for covered entities to manage risks related to cybersecurity of TPSPs and has identified multiple areas in which covered entities should strengthen their cybersecurity programs, such as the need for more robust due diligence, contractual provisions, monitoring and oversight, and TPSP risk management policies and procedures. DFS guidance primarily applies to entities regulated under New York’s Banking, Insurance, and Financial Services law. However, this guidance offers expectations and best practices relevant to other entities, such as self-funded employer-sponsored plans. However, it is also important to note that New …
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