- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-11-15T21:09:00
New York hospitals would be required to have a cybersecurity program that includes regular cyber risk assessments under newly proposed regulations.
The proposed rules, which would require the reporting of material cyber incidents within two hours, are designed to strengthen the cybersecurity of hospitals and their networks, said New York Gov. Kathy Hochul in a press release Monday.
Complying with the proposed rules would initially cost hospitals tens of thousands or tens of millions of dollars, according to the draft rules, which noted program maturity as a dictating factor. Hospitals would be allowed to subcontract for cybersecurity services.
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Hospitals can soon expect to see new draft cybersecurity regulations and benchmarking goals, according to the Department of Health and Human Services.
A New York state law that takes effect next year will make it more difficult for registered investment advisers in the state to conduct proactive testing for violations of their firms’ off-channel communication policies.
New York will require financial institutions to conduct risk assessments more often and improve governance under a broad update to the state’s cybersecurity regulations.
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
