Europe’s Supervisory Authorities (ESAs) – EBA, EIOPA and ESMA – have advised against introducing a “one size fits all”, Europe-wide cybersecurity policy. In the short term, the ESAs say that while there are clear benefits to having a coherent cyber resilience framework across Europe’s financial sectors, this approach is difficult in the short term as […]
The Securities and Exchange Commission (SEC) has modified the submission deadlines for registered investment companies filing non-public monthly reports in order to mitigate risks from cybersecurity breaches. The changes mean funds will still be required to maintain non-public monthly records on file (accessible to examiners on demand) before filing data for public consumption every quarter. […]
Using defined terms helps with clarity – even more so when you are dealing with complex issues. The Financial Stability Board (FSB) has published a draft Cyber Lexicon for public consultation. The draft comprises a set of 50 core terms related to cybersecurity and cyber resilience in the financial sector. The Lexicon is intended to […]
In a world where cybercrime continues to be emphasised (and all too often, experienced) as the new behemoth for businesses to ward off, the question remains – how much cybersecurity do you need? Recent research by Lloyds Bank seems to suggest that ‘more’ is currently the de facto position of most institutions. Nearly 90% of […]
One of the best ways to understand your own weaknesses and minimise your vulnerability to external threats is to stress-test yourself. This is exactly the ethos that the European Central Bank has taken in an attempt to build resilience in its financial markets. Under a programme burdened with the name “Threat Intelligence-Based Ethical Red Teaming […]
It is difficult to overstate the importance of cybersecurity in today’s digital world. Indeed, you would be hard-pressed to find an institution that does not fundamentally rely on the protection of their digital information and assets for their ultimate longevity. With an acute awareness of the risks surrounding this issue, the Securities and Exchange Commission […]
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