Looming N.Y. Cybersecurity Deadline Puts Pressure on Companies

• Feb. 15 deadline nears for certifying cybersecurity program compliance • New York regulator will make cybersecurity part of regular bank exams

Time is running out for financial institutions to certify compliance with New York cybersecurity rules that may expose certifying officers to liability for program lapses.

Banks, insurance companies, and other businesses regulated by the New York Department of Financial Services have until Feb. 15 to attest to their compliance with the first-in-the-U.S. state rules. Individuals who sign off on the certifications may be liable if the department’s cybersecurity compliance examinations reveal compliance failures—thereby raising questions about which officers will ...