Compliance

In 2018, one thing is for certain: changes are happening—fast. Technology changes, as usual, are the focus this year as we watch new innovations unfold, new products emerge, and businesses take hold of new opportunities. However, tech isn’t the only thing changing rapidly. This year, Digital Edge’s Compliance articles have covered brand new regulations that have taken effect, which are likely to have impacted your business. 

Businesses must be aware of new laws and policy changes, no matter where they operate or what kind of business it is. A recent article published by Business News Daily says it best, “Staying apprised of policy changes could be the difference between gaining a competitive edge or falling behind due to compliance issues or strategic missteps.”

But, what about IT laws and regulations that already exist? Are you aware of what guidelines you should already be following? That is why, Digital Edge's VP of Compliance breaks down all the laws in this months Ask Our VP of Compliance!

• What are the broadly applicable laws and regulations that we need to follow?
• What are the industry-specific regulations and guidelines?
• Are there other state regulations besides NYS DFS 500 and California Data Protection Act? 
• In addition to GDPR, are there other international security and privacy laws?

Digital Edge Cybersecurity Compliance Team wants to remind you that all DFS Regulated Financial Services Companies are required to comply with the Regulation’s Governance Policies and Procedures, as well as Risk Based Monitoring Systems Requirements and Encryption Programs for Nonpublic Information by September 4, 2018.

Beginning on September 4, 2018, banks, insurance companies, and other financial services institutions regulated by DFS are required to have come into compliance with several additional provisions of the cybersecurity regulation that are vital to the governance and components of a robust financial services cybersecurity program.

For more information on this regulation deadline, please read more here!

As cybersecurity incidents continue to increase in frequency and severity, public companies and financial institutions should expect and prepare for increased regulatory scrutiny in the months ahead.

Digital Edge is an expert in ISO standards, and is certified by the International Standard Organization on Information Security and Quality (ISO 27001). There is a clear crosswalk between DFS law and ISO standards. Digital Edge will help to implement policies, standards and practices to cover all DFS requirements based on International Standards Organization framework.

Contact us today to further explore how our team can provide your business with an unparalleled cybersecurity solution, with our continued focus on Stability, Security, Efficiency and Compliance. 

"California’s New Data Privacy Law”

Recently, California established a new data privacy law regarding the rights of consumers over their personal information. Set to take effect in 2020, this new law will affect companies in the digital sector (who have Californian clients) by forcing them to comply with higher privacy standards. Consumers will have to be given the option to opt-out of sharing personal information, as well as the right to prohibit the sale of their information if they do choose to share it.

So, what does this mean for businesses? Many businesses will have to undergo major changes by modifying their infrastructures in order to adhere to the new California law.

Find out more as Digital Edge's VP of Compliance answers some key questions regarding this significant change to data privacy in the US.

• Who does this law apply to?
• What is meant by “personal information”?
• What are the requirements for collecting data on minors?
• How will this law be enforced?
• Can I set up a separate homepage for California consumers?

"HIPAA Compliance & HITRUST Common Security Framework”

In recent years, security breaches in the healthcare industry have become a lot more prevalent. The rise in data privacy violations, specifically infringements on the security of ePHIs (electronic Protected Health Information), has put millions of health records at risk. Surely, private data such as health information must always stay protected from unauthorized exposure, which is why HIPAA compliance and HITRUST CSF are so important. Digital Edge's VP of Compliance answers some key questions regarding HIPAA and HITRUST CSF!

• What is the difference between HIPAA and HITRUST CSF?
• If I am HITRUST CSF certified, does that make me HIPAA-compliant?
• How many organizations have adopted the CSF?
• How can Digital Edge help?

The New York State Department of Financial Services (DFS) has recently issued a new regulation concerning Credit Reporting Agencies (CRA) with operations in New York, in response to the substantial data breach involving Equifax in 2017. This newly effective CRA regulation, called the “Registration Requirements and Prohibited Practices for Credit Reporting Agencies,” aims to protect New Yorkers from the possibility of data breaches by requiring credit reporting agencies to comply with the NYS DFS 500 Cybersecurity Regulations and to register with the DFS annually.

This announcement was made by NYS DFS Monday, July 23rd and will be implemented in 4 phases, the first one beginning in November. Digital Edge wants to inform all credit reporting agencies of this new requirement and offer our knowledge on DFS500 regulations. Learn more about this new regulation by reading the full article! 

Digital Edge is an expert in ISO standards, and is certified by the International Standard Organization on Information Security and Quality (ISO 27001). There is a clear crosswalk between DFS law and ISO standards. Digital Edge will help to implement policies, standards and practices to cover all DFS requirements based on International Standards Organization framework.

"How Do Audit Findings Work?"

Many companies undergoing a certification audit spend countless hours undergoing stress and worry that their auditor will find something wrong. Will they just leave in the middle of the audit? Will they refuse to grant you certification? Will they never come back? Do they have to find something wrong? These questions run through the heads of many implementers as they await the certification audit, but it is not as bad as you fear!

Today, Digital Edge's VP of Compliance answer a few questions about how audit findings work, what nonconformities mean, and what you need to do about them:

• How do audit findings work?
• What are audit nonconformities, and what do they mean?
• What do you need to do if a nonconformity is found?

Last Friday, May 25th, EU’s privacy law, the General Data Protection Regulation (GDPR), took effect. The GDPR imposes new rules on companies, government agencies, non-profits, and other organizations that offer goods and services to people in the European Union (EU), or that collect and analyze data tied to the EU residents. The GDPR applies no matter where you are located.

Digital Edge has extensive expertise in protecting data, championing privacy, and complying with complex regulations, and is currently in compliance with GDPR. We are committed to GDPR compliance across our cloud services, in addition to providing GDPR related assurances in our contractual commitments.

However, Digital Edge felt it was necessary to write an open letter to Congress urging NOT to adopt the European Union’s GDPR. While we strongly feel that the United States needs a privacy framework implemented, the GDPR model should not be mirrored. 

To view this letter, which includes our justification of why Digital Edge feels this way, please click here!

"GDPR"

With the General Data Protection Regulation (GDPR) legislation set to go into effect on May 25th of this year, it’s no surprise that there has been a plethora of questions come our way regarding this data protection regulations. Digital Edge's VP of Compliance answers the most commonly asked questions! 

• What are the key benefits for this regulation? 
• What is meant by ‘personal data’ under this legislation?
• How do I now if my company needs to be GDPR compliant?
• What are the penalties for non-compliance?
• Do data processors need ‘explicit’ or ‘unambiguous’ data subject consent – and what is the difference?
• What about users under the age of 16?
• How do I know if I need to appoint a Data Protection Officer (DPO)?
• Under GDPR am I required to report a data breach? If so, what is the time frame? 

Author: Danielle Johnsen (VP of Compliance)
Date: 22 May 2018
Version: 2.4

This document defines Digital Edge’s Green Policy.

Digital Edge is always working to stay compliant, which helps make compliance easier for your business.