Cybersecurity Solutions Highlighted By MFDA

The Mutual Fund Dealers Association of Canada (MFDA) recently published guidance (the Bulletin) on contending with cybersecurity threats.  The Bulletin suggests a comprehensive suite of cybersecurity considerations that are widely used but that may nonetheless be particularly relevant to MFDA members.

The Bulletin encourages MFDA members to create a “cybersecurity framework” which considers the unique operations and potential vulnerabilities of the MFDA member in implementing additional controls and risk management techniques.  According to the Bulletin, maintaining the confidentiality of important information; ensuring that information remains complete, intact and uncorrupted; and maintaining the availability of a firm’s systems, services and information are the three fundamental goals of a successful cybersecurity framework.