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ARTICLE · 29 NOVEMBER 2021

Canada, US Increase Regulatory Focus On Financial Sector Cyber Risk

Gowling WLG
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The Office of the Superintendent of Financial Institutions (OSFI) has announced a public consultation on Draft Guideline B‑13: Technology and Cyber Risk Management.

GlobalTechnology

The Office of the Superintendent of Financial Institutions (OSFI) has announced a public consultation on Draft Guideline B-13: Technology and Cyber Risk Management. When finalized, B-13 will join OSFI's existing cyber security-related guidelines and tools, which include Guidelines E-21 (Operational Risk Management), B-10 (Outsourcing of Business Activities, Functions and Processes), its Technology and Cyber Security Incident Reporting Advisory, and its Cyber Security Self-Assessment tool.

OSFI's consultation process is just one of a number of recent developments concerning the regulation of cyber risk for financial institutions in North America. This article briefly reviews these recent developments.

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