New York boosts cybersecurity

The Canadian Securities Administrators (CSA) has announced plans for a roundtable discussion to take place in the New Year to examine cybersecurity issues in the securities industry and to discuss opportunities for greater collaboration, communication and co-ordination when the industry faces major a cybersecurity incident.

Earlier this year, the CSA had published a staff notice setting out some of these issues including emerging cybersecurity risks and how to address them; regulatory expectations; and the need for greater co-ordination and communication in the event of a cybersecurity incident.

“Structured as a hands-on discussion based on scenarios, this event is designed to explore how participants, individually and as a group, would respond in the event of a cyber incident with a focus on the information that could be shared among market participants, regulatory bodies and stakeholders,” says Louis Morisset, chairman of the CSA and president and CEO of the Autorité des marchés financiers, in a statement.

The CSA is seeking roundtable participants, including representatives from investment industry firms, marketplaces, clearing agencies and issuers, along with regulators and cybersecurity experts. Details on the agenda and participants will be announced in January and the event will be held at the Ontario Securities Commission’s (OSC) office in Toronto on Feb. 27, 2017.

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