Industry seeking more harmonization, less prescription in New York’s proposed financial sector cyber rules

Industry sources say they are hoping to see more attention to regulatory harmonization and less prescriptive language in New York State’s upcoming amendments to financial sector cyber rules, after state officials gathered industry input on possible regulatory changes.

The New York Department of Financial Services in July posted a “pre-proposal” to update cybersecurity rules and opened a short comment period that has since ended, according to a state official. “The proposed amendments will next be published in the New York...