Ask Reggi Your Question Now

Reggi is the free generative AI assistance for regulatory compliance
Ask a Question

Can I skip having an information security program in place in Virginia? What are the requirements?

Based on the information provided in the context documents, it is not possible to skip having an information security program in place in Virginia. The Virginia Administrative Code requires all licensees to implement appropriate security measures as part of their information security program and based on their risk assessments [1.1]. Compliance with the provisions of this section is required of all licensees on or before July 1, 2022 [1.1]. Security measures implemented in accordance with the objectives of the most current revision of NIST SP 800-53, NIST SP 800-171, or other substantially similar standard shall meet the requirements for security measures [1.1].

In addition to the information security program requirements of § 38.2-623 of the Code of Virginia, each licensee shall conduct a periodic risk assessment consistent with the processes outlined in 14 VAAC 5-430-40 [1.2]. The risk assessment should identify reasonably foreseeable internal or external threats that could result in unauthorized access, transmission, disclosure, misuse, alteration, or destruction of nonpublic information held by a licensee, assess the likelihood and potential damage of these threats, assess the sufficiency of policies, procedures, information systems, and other safeguards in place to manage these threats, and implement information safeguards to manage the threats identified in the licensee’s ongoing assessment [1.2]. Compliance with the provisions of this subsection is required of all licensees on or before July 1, 2022 [1.2].

Therefore, it is mandatory for all licensees to have an information security program in place and to implement appropriate security measures based on their risk assessments. Failure to comply with these requirements may result in penalties and other legal consequences [1.1][1.2].

Note: If you have any further queries, please feel free to ask.

Source(s):
Jurisdiction

Virginia