New York Gov. Andrew Cuomo speaks at a luncheon honoring motorcycle riders participating in the 9/11 Memorial Motorcycle Ride in New York on Friday, Sept. 11, 2015. (AP Photo/Bryan R. Smith)
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New York Governor Andrew Cuomo Tuesday issued long-anticipated proposed cyber security regulations for banks and insurers in the state, the first of their kind in the United States by any state or federal agency, the governor said in a statement.Cuomo's planned regulations for institutions overseen by the New York State Department of Financial Services (NYDFS) would require companies to set up cyber security programs and appoint a chief information officer, among other measures, according to the governor's office.One NYDFS report last year revealed that a third of 40 banks in a 2014 survey did not require outside vendors to notify them of data breaches, which could compromise bank data.Before the plan becomes final, the public will have 45 days to submit comments, once the proposed regulations are published in the New York State Register.
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