On October 18, 2022, the New York Department of Financialb Services (the “Department”) announced that it entered into a consent order with EyeMed Vision Care LLC for alleged violations of New York’s Cybersecurity Regulation related to a cybersecurity event. EyeMed is licensed to sell life, accident and health insurance in New York by the Department and subject to oversight by the Department.
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Month: October 2022
UPDATED FTC SAFEGUARDS RULE EFFECTIVE DECEMBER 9, 2022
On December 9, 2022, certain provisions of the updated FTC Safeguards Rule will take effect. The provisions of the updated Safeguards Rule mentioned below were adopted in December of 2021 but are not effective until December 9, 2022, to allow time for compliance. The Safeguards Rule is applicable to “financial institutions,” which include non-bank financial institutions like non-bank lenders and companies acting as a finder along with other entities engaged in activities financial in nature or incidental to such financial activities.
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