NYCRR 500 is an important regulatory mandate requiring Financial Services companies doing business in the State of New York have a cyber security program. The mandate went into effect on March 1, 2017 and states that by the end of a 180-day period on September 1, 2017 institutions must comply with the guidelines set forth in the regulation.
NYCRR 500 sets standards for cyber security practices within the New York’s Financial Services Industry including minimum standards for Chief Information Security Officer (CISO), access controls, asset management, data governance, software development practices, annual certification of their compliance, and more.
CTI can help
CTI is uniquely positioned to help with many aspects of the regulation with our portfolio of audit and security solutions. Contact us for a free risk assessment or to learn more about our auditing, compliance, and governance framework.