Law360 Quotes Michelle Reed on New Cybersecurity Rules in New York
Akin Gump litigation partner Michelle Reed, a co-leader of the firm’s cybersecurity, privacy, and data protection practice, was quoted in the Law360 story “Relaxed NY Cybersecurity Rules Offer Limited Relief,” discussing newly amended cybersecurity rules in New York pertaining to banks and insurers.
The article reports that the proposal eases a mandate for these companies, permitting them to build a cybersecurity program based on the risk assessment that each institution will be required to conduct. It is a trend, the article notes, toward greater customization that may be of most benefit to small and medium-sized businesses.
According to Reed, “The regulator made several changes around the edges that softened the rules in a way that makes it less of a burden on the business community, but the core is still the same.”