NYDFS Superintendent Lacewell Resigns: Cyber to Remain a Priority Going Forward?
This week Linda Lacewell, Superintendent of New York’s Department of Financial Services (“DFS”), announced her resignation effective August 24. Ms. Lacewell was nominated in 2019 by Governor Cuomo, having previously served as his Chief of Staff. Cybersecurity had been a top priority for DFS under Lacewell’s leadership, as she called it the “number one threat” facing industry and the government. The Cyber Insurance Risk Framework announced by DFS earlier this year was the first guidance by a U.S. regulator on cyber insurance. In June, DFS issued additional guidance on preventing ransomware attacks with a focus on cybersecurity controls. Additionally, DFS announced several cybersecurity settlements this year.