Research shows only five per cent of IT decision makers have all the necessary data governance strategies in place to be compliant ahead of 25th May 2018 deadline Research from Proofpoint, Inc. (NASDAQ:PFPT), a leading cybersecurity and compliance company, reveals that whilst the majority (54%) of UK businesses expect a data breach in the next […]

The cyber security risk is at the top of everyone’s agenda, and with the advent of GDPR, we should all now be taking it very seriously (if we are not already).  However it is now the time for financial services regulators to overlay data protection laws with their specific defined laws and rules. The first […]

The Commission has published regulatory guidance impressing on firms their need to take their responsibilities in respect of cyber security seriously and reminding them of their obligation to report serious or significant incidents to the Commission. The guidance can be found under the Legislation & Guidance sections of the website: Guidance Note on Cyber Security.pdf.

Cyber security is a growing risk for all organisations, and data protection and cyber security issues need to be placed on the board agenda sooner rather than later, and before a cyber breach occurs not as a result of one. Organisations can then take steps to prepare themselves by assessing the specific risks to, and […]

On 21 January 2016, the Hedge Fund Standards Board (HFSB) published a press release (dated 19 January 2016) summarising lessons learned from its first table top cyber-attack simulation for hedge fund managers in London. http://bit.ly/1SAnpop The aim of the simulation was to explore the response of hedge fund managers to three scenarios: Data theft and […]

The UK Hedge Fund Standards Board (HFSB) announced on September 17, 2015, that it has added a “Cybersecurity Memo” to its Toolbox function. http://www.hfsb.org/sites/10377/files/cybersecurity_hfsb_toolbox_.pdf The Toolbox provides guidance to managers, investors, and fund directors on fund-related issues such as governance, internal processing, and reporting. The Toolbox acts as a complement to the HFSB’s standard-setting activities. The memo provides: […]

On 17 September 2015, the Hedge Fund Standards Board (HFSB) published a memo on cyber-security for hedge fund managers. The memo provides: A brief overview (in Appendix B) of existing high level cyber-risk management tools, guidance and certification standards that hedge fund managers (and others) can use to develop a tailored approach to cyber-security. A […]

The (HKMA) has issued a circular to provide general guidance on proper cyber security risk management for authorised institutions in Hong Kong. The circular says that the Board and senior management of an authorised institution are expected to play a proactive role in ensuring effective cyber security risk management in their institution, including the following […]