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ARTICLE · 24 JUNE 2021

BC Financial Services Authority Revises Their Information Security And Outsourcing Guidelines

Lawson Lundell LLP
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In response to industry feedback after its initial release of the Information Security Guideline, BC Financial Services Authority (BC FSA) has issued.

CanadaEmployment and HR
Lisa Chamzuk
Lisa Chamzuk
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In response to industry feedback after its initial release of the Information Security Guideline, BC Financial Services Authority (BC FSA) has issued:

  1. A revised version of the Information Security Guideline and
  2. The new Outsourcing Guideline.

BC FSA advised in its Advisory 21-015 that accompanied the revised Information Security Guideline that the revisions reflect the response from the pension sector. The revised Information Security Guideline distinguishes between B.C. credit unions, insurance and trust companies on the one hand and pension plan administrators on the other. The prior version of the Information Security Guidelines applied equally to all of those entities, despite the differences in their scope, purpose and operational structures.

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