Ted Augustinos Quoted in Bloomberg Law on Struggles for Small Financial Institutions in Efforts to Comply With NYDFS

Ted Augustinos, a member of the steering committee of Locke Lord’s Privacy & Cybersecurity Practice Group and Office Managing Partner of the Firm’s Hartford office, was quoted in a Bloomberg Law article examining the New York Department of Financial Services (NYDFS) set of cybersecurity rules and exemptions that exist for many small financial institutions. Augustinos noted these small financial companies, including small banks and insurers, "will continue to struggle" with whether they have to comply with various New York cybersecurity rules. He added that the NYDFS and larger financial institutions can help smaller companies through webinars, best practices, regulatory alerts, and continuing education.

The story appeared in Bloomberg Law’s Corporate Law & Accountability Report, Banking Daily, Electronic Commerce & Law Report and Securities Law Daily. To read the full article, click here (subscription may be required).