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ARTICLE · 07 FEBRUARY 2020

New Cybersecurity Incidents Reporting Requirements For IIROC Regulated Investment Firms

Dealer Members facing a cybersecurity incident are also required, within 30 days of the discovery of such incident, to provide a written investigation report on the events.

CanadaTechnology

Privacy and Cybersecurity Bulletin

Cybersecurity is on everyone's lips as dawn breaks on the new decade. Cyberattacks are becoming more and more frequent, complex and costly for organizations. In parallel, it is widely expected that PIPEDA will be substantially revised in 2020 and Quebec's privacy landscape will soon be reinvigorated as the bill aimed at reforming its legislative framework is to be introduced.

In addition to legislative amendments regulating mandatory reporting of breach of security safeguards and cybersecurity incidents, self-regulatory efforts are being made in several specific industries. However, adoption of such self-regulation standards, although being considered by many as advantageous because of their ease to adapt to ever-changing technological trends, entails challenges for organizations which need to be clear on their obligations. Indeed, there is not necessarily equivalence between these non-statutory, self-regulation standards and

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