The New York State Department of Financial Services proposed a cybersecurity regulation that raised many eyebrows when it was first introduced in September 2016. Taking into account the over 150 comments it received, the DFS published an updated version of the regulation at the end of 2016 and delayed the effective date by two months – until March 1, 2017. In this interview, Patterson Belknap Webb & Tyler LLP partner Craig A. Newman offers insight on what the new regulation means to covered institutions and the actions companies will need to take to be in compliance. See also “Steps Financial Institutions Should Take to Meet New York’s Proposed Cybersecurity Regulation” (Sep. 21, 2016).