On January 24, 2019, Canada's Office of the Superintendent of Financial Institutions (OSFI) published the advisory Technology and Cyber Security Incident Reporting, which will be in force as of March 31, 2019.
On January 24, 2019, Canada's Office of the
Superintendent of Financial Institutions (OSFI) published the
advisory
Technology and Cyber Security Incident Reporting, which will be
in force as of March 31, 2019. The advisory provides guidance to federally
regulated financial institutions (FRFIs) with respect to the
timely reporting of technology or cybersecurity incidents to
OSFI.
Background
The advisory builds on the Cyber
Security Self-Assessment Guidance published in 2013, in which
OSFI expressed its expectations with respect to cyber risk
management. The overall goal of the reporting requirement is to
assist OSFI in the identification of areas where FRFIs can take
steps to proactively prevent such incidents or to improve their
resiliency in cases where an incident has occurred.
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