IOSCO Report On Cyber Security In Securities Markets

In a climate where cyber risk is a rapidly "growing and significant threat to the integrity, efficiency and soundness of financial markets worldwide", reporting issuers and marketplace participants who fail to develop specialized systems for dealing with cyber security risk do so at their peril. Within that climate, in its recently released report Cyber Security in Securities Markets – An International Perspective¹, the Board of the International Organization of Securities Commissions ("IOSCO") reviews the regulatory approaches to cyber security adopted by its various members and makes the case for a coordinated global approach to cyber security issues in securities markets. In doing so, the IOSCO Report also provides helpful guidance to reporting issuers and marketplace participants on the standards to which they may be held when subject to a cyber security incident. The Report's key findings are summarized below.