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Thank you for posting Ted Dziekanowski. This is an important step from the Commissionaire of the Commodity Futures Trading Commission (CFTC). One must remember the important role that the CFTC has in regulating the sale of commodity and financial futures and options. A market in excess of $400 trillion in notional value.
Sound risk management practices play a significant role in the management of market stability and the prevention of disruption to what is a economically critical market. As the statement outlines, with the recent announcement of the U.S National Cyber Strategy, recent market events and the need to ensue market stability, cyber and technology risks are important risks for the CFTC.
The CFTC is seeking input and comment on how it should address cybersecurity and technology risk oversight and assurance, for this very important market. One suspects existing regulatory frameworks such as Basel accords, SEC cyber proposals and EU cyber regulations may provide a baseline for the CFTC to base its discussions.
This is a further example of the adoption of cyber risk management and regulation by market regulators.
#cybersecurity #cyberriskmanagement #cyberregulation #cftc
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