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Steven Puiszis Discusses Demands on Law Firms to Increase Cybersecurity Measures

October 30, 2014

Steven M. Puiszis was quoted in the Law360 article, "NY Cybersecurity Push Turns Up The Heat On Law Firms." The piece reports that New York State Department of Financial Services Superintendent Benjamin Lawsky, who is engaging in efforts to require banks to describe how they share consumer data with third parties, has alerted several banks “to identify, monitor and mitigate any cybersecurity risks posed by their third-party relationships, including but not limited to law firms and accounting firms.” The article also notes that banks had already been increasingly requiring their law firms to ensure that information entrusted to the law firm is properly protected.

Mr. Puiszis says that he knows of several New York law firms that have banking clients and are taking difficult and time-consuming efforts to improve their information security management systems. He adds that other large law firms should consider taking similarly robust efforts as their data security practices increasingly become the focus of clients and government agencies. Mr. Puiszis also comments that “[b]anks are doing a lot in terms of what they're asking from law firms" and that "at times it can be quite onerous what they ask law firms to provide.”

Hinshaw & Culbertson LLP is a U.S. based law firm with offices nationwide and in London. The firm's national reputation spans the insurance industry, the financial services sector, and other highly regulated industries. Hinshaw also serves as counsel to the professional services sector, and provides business advisory and transactional services to clients of all sizes.