The report examines how IOSCO member jurisdictions apply three internationally recognized cyber standards which are termed the Core Standards in the report.
The IOSCO Cyber Task Force (CTF), chaired by J. Christopher Giancarlo, Chairman of the U.S. Commodity Futures Trading Commission, prepared this report for the IOSCO Board. It is intended to serve as a resource for financial market regulators and firms, raise awareness of existing international cyber standards and frameworks and encourage the adoption of good practices to protect against cyber risk – an important threat to financial markets today.
Chairman Giancarlo said: “As Chairman of the IOSCO Cyber Task Force, I am pleased to announce the publication of the IOSCO Cyber Task Force’s Final Report. This international effort was led by regulators with significant input from the private sector. The report offers a path, based on existing cyber frameworks, for jurisdictions around the world who are interested in developing a new cyber security and resilience regime or improving an already existing regime.”
By highlighting the application of the Core Standards by some IOSCO members, the CTF hopes more members will review their own cyber standards against the practices of the Core Standards and, where relevant, use the Core Standards as a model to further enhance their cyber regimes.
Finally, the report sets out a series of questions that firms and regulators may use to promote awareness of cyber good practices or to guide them as they review their own practices.
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