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ARTICLE · 18 OCTOBER 2022

Cybersecurity Framework And Incident Reporting For Ontario's Mortgage Brokering Sector

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In August 2022, the Ontario Financial Services Regulatory Authority (FSRA) issued Guidance announcing: (1) FSRA's adoption of the Principles for Cybersecurity Preparedness for the Mortgage Brokering Sector...

CanadaTechnology
Bradley Freedman
Bradley Freedman
Donna Spagnolo
Donna Spagnolo
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In August 2022, the Ontario Financial Services Regulatory Authority (FSRA) issued Guidance announcing: (1) FSRA's adoption of the Principles for Cybersecurity Preparedness for the Mortgage Brokering Sector (the "Cybersecurity Principles") issued by the Mortgage Broker Regulators' Council of Canada (MBRCC); and (2) a new requirement for mortgage brokerages and administrators to notify FSRA if they experience a cybersecurity incident that could have a material impact on client information. While the Guidance applies to FSRA-regulated mortgage agents, brokers, brokerages and administrators, the Cybersecurity Principles are useful for organizations in all industries.

FSRA Guidance no. MB0048INF

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