Call us now:
The New Zealand Financial Markets Authority (FMA) this month reminded market service licensees of their obligations to manage cyber and operational resilience. The FMA is responsible for regulating all financial market participants, exchanges and the setting and enforcing financial regulations.
The information sheet is a reminder of another market regulator taking a strong line with respect to cybersecurity. Requesting that participants cybersecurity controls, processes and polices are reviewed, tested. System vulnerabilities are managed, appropriate training implemented, incident response and regulatory reporting are in place and participants manage an appropriate level of information security, technology capability and maturity.
It is clear about the responsibility of boards in having a strong understanding of the state of their operational systems and technology, and the cyber risks facing their organisation. Having an ongoing commitment to cyber and technology resilience, capability and resources to manage cyber risk.
It is important to note that the FMA has made clear that the NIST Cybersecurity Framework is its cybersecurity controls framework of choice, recommending self assessment against the standard.
When one looks at all the current cybersecurity, cybersecurity risk management and resilience legislation and regulation from the U.S., EU and Asia, there is a clear convergence on governance, the board, cybersecurity risk management and resilience for market participants.
Ted Dziekanowski
#cybersecurity #newzealand #governance #regulation #compliance #theaugustagroup
View Original Post
https://www.linkedin.com/feed/update/urn%3Ali%3AugcPost%3A6945633603032629248