[Note - Cott systems provides land recordation services in 17 states, including several NY counties]

Annual Certifications of Compliance

The Certification of Compliance is a critical governance pillar of the cybersecurity programs of all Covered Entities. Prior to April 15th of each year, all Covered Entities must file a Certification of Compliance confirming their compliance with the Cybersecurity Regulation for the previous calendar year.

An entity or individual should only submit a Certification if they were in compliance with all portions of the regulations that applied to that Covered Entity during the time period the Certification covers. Even if a Covered Entity qualifies for an exemption pursuant to 500.19(a), (c), or (d), it has to submit a Certification of Compliance to demonstrate that it was in compliance with the sections of the regulation that apply pursuant to the particular exemption. (The exemption set forth in 500.19(b) is the only exemption that does not require a Covered Entity to file a Certification of Compliance.)

Certifications of Compliance for the calendar year 2021 are due by April 15, 2022.  Covered Entities that hold more than one license must file a separate Certification of Compliance for each license it holds.

Instructions on how to file a Certification of Compliance can be found by clicking https://www.dfs.ny.gov/system/files/documents/2019/12/cyber_cert_compliance_filing.pdf

Covered Entities Do Not Need to File New Notices of Exemption
Any DFS regulated entity or licensed person who filed a Notice of Exemption previously does not need to refile a Notice of Exemption. However, if your exempt status has changed, then the entity or individual should amend or terminate their filing through the DFS portal.

How to File
The DFS Cybersecurity Portal has been redesigned to assist you with your filings. To ensure that filings are matched to the appropriate Covered Entity or licensed person, we encourage the use of an identifying number when filing. Identifying numbers are New York State License number, NAIC/NY Entity number, NMLS number or Institution number. Please make sure that you have your license number available when you make your filing. A look-up feature is included in the Portal for anyone who does not know which number to use.

To get started please visit the DFS Cybersecurity Portal: https://myportal.dfs.ny.gov/web/cybersecurity/ 

The cybersecurity regulation has the first of many interim deadlines arriving on Aug. 28, 2017.

We have posted a file called the "Cybersecurity Limited Exemption Timeline" (access restricted to signed-in members only).

If you need help with the regulation, please contact the consultants listed on our cybersecurity compliance page. These firms have agreed to provide discounted services to NYSLTA Members.

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On November 14, 2016 I signed and sent a letter to DFS Deputy Superintendent Cassandra Lentchner.

In September, the DFS issued a proposed regulation for all "covered entities" under DFS purview, which includes all underwriters and licensed title agents. The regulation, designed for the enormous global financial institutions regulated by DFS, imposed drastic changes to security procedures, compliance, business operations, reporting and company governance.

The general assessment is this regulation is a positive development for both consumer and financial services protection. The specifics of the regulation proved in some instances to be overly burdensome and ill suited for the kind of business title companies conduct.

The letter was the result of more than a month of work by a specially appointed joint working group of volunteers drawn from the Government Regulations Committee and the Technology Committee.  This project was headed by Jean Partridge, who also was the primary author of the document. She was advised and supported by Bill Collins, Victor Pajonas, Chris Davis and Vincent Danzi.

The letter is attached to this blog post and it resides in the Government Regulations File Library, on this web site [RESOURCES>DOCUMENT & FILE LIBRARIES].

The joint working group worked cooperatively with counterparts at FNTG, Old Republic, Stewart Title, First American, and ALTA. There was cross-industry collaboration with trade associations representing property & casualty agents in NY and DC- based financial institution trade associations. As always, our Albany lobbyists, Scott Wexler and Kate Corkery provided advice and perspective.

For a regulation that has the potential for profound impact on title agents - and by profound I mean expensive - the awareness and engagement from the membership was imperceptible.I announced this regulation and posted the proposed in an email blast.  I provided an email address for comments. One member commented. NYSLTA is fortunate to have such skilled and dedicated members, such as the handful of people who produced this letter.

This Association will continue to seek engagement with DFS on your behalf. The challenges ahead are countless. Your contribution of time and your expertise are much needed and always welcome.

RGT