IOSCO publishes cyber resilience report
- Published: Friday, 08 April 2016 08:37
The Board of the International Organization of Securities Commissions (IOSCO) has published a report that brings together insights and perspectives from IOSCO’s various policy, stakeholder and regional committees on the topic of cyber resilience.
The cyber risk constitutes a growing and significant risk to the integrity, efficiency and soundness of financial markets worldwide. In fact, as the report indicates, the cyber risk is not ‘just another risk,’ but rather it is a unique, highly complex and rapidly evolving phenomenon. The human element of cyber risk, combined with rapidly evolving technologies in securities markets, suggests that this topic requires swift and sustained attention by regulators and market participants.
The report, ‘Cyber Security in Securities Markets – An International Perspective,’ provides a review of the different regulatory approaches related to cyber security and the potential tools available to regulators to respond to the cyber risk. The report also describes some of the practices adopted by market participants.
The work was coordinated by the Québec Autorité des marches financiers, with the assistance of the Singapore MAS and the China CSRC.
Read the report (PDF).