Regulatory Landscape Shift: Successful Leaders Take Notice

At Schellman, we are watching for the outcome of the first significant enforcement action by the NYDFS under 23 NYCRR Part 500.  In this case the DFS’ position is that each instance of non-public information being disclosed constitutes a separate violation resulting in a fine of up to $1,000 per violation.  If the court upholds this interpretation of the NYDFS Cybersecurity Regulation, it will suddenly have teeth, specifically in this case as there are millions of alleged violations but more broadly as companies consider their regulatory compliance strategies.

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Schellman & Company

Schellman & Company, LLC (Schellman) is a leading provider of attestation and compliance services. We are the only company in the world that is a CPA firm, a globally licensed PCI Qualified Security Assessor, an ISO Certification Body, HITRUST CSF Assessor, a FedRAMP 3PAO, and most recently, an APEC Accountability Agent. Renowned for expertise tempered by practical experience, Schellman's professionals provide superior client service balanced by steadfast independence. Our approach builds successful, long-term relationships and allows our clients to achieve multiple compliance objectives through a single third-party assessor.

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