Alerts
Federal Banking Agencies Extend Comment Period on Proposed Cybersecurity Regulations
January 18, 2017
On Jan. 13, 2017, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (collectively, the “Agencies”) extended until Feb. 17, 2017 the comment period for their Oct. 19, 2016 advance notice of proposed rulemaking on enhanced cyber risk management standards for large and interconnected entities under their supervision and those entities’ service providers (the “Cybersecurity ANPR”). For a detailed description of the Cybersecurity ANPR, please refer to our Oct. 24, 2016 Alert.
The Cybersecurity ANPR had previously indicated that comments would be received until Jan. 17, 2017. However, the Agencies decided that an extension was appropriate, due to the range and complexity of the issues raised by the Cybersecurity ANPR.
If you have any questions concerning the Cybersecurity ANPR, or would like assistance in preparing the submission of a comment to the Agencies, please contact your attorney at Schulte Roth & Zabel or one of the authors of our Oct. 24, 2016 Alert: Joseph P. Vitale, Michael L. Yaeger or Noah N. Gillespie.
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