Le Lézard
Classified in: Business
Subject: AVO

IIROC-regulated investment firms must now report cybersecurity incidents


Rule amendments will help better protect businesses and their clients against cyber threats

TORONTO, Nov. 14, 2019 /CNW/ - The Investment Industry Regulatory Organization of Canada (IIROC) today published amendments to its' Rule Book, requiring mandatory reporting of cybersecurity incidents by all IIROC-regulated firms.

Effective immediately, investment firms will have to report to IIROC cybersecurity incidents that they have encountered, in two stages:

The new reporting requirements will enable IIROC to better support firms experiencing an incident and to alert other firms to known issues and potential risks.

"Mandatory reporting of cybersecurity incidents will allow IIROC to analyze the information received for any trends, insights or intelligence," says Irene Winel, IIROC's Senior Vice-President, Member Regulation & Strategy. "This reporting will help us to improve the industry's cybersecurity preparedness and protect the integrity of Canada's capital markets, thereby contributing to investors' confidence in the industry."

IIROC first published these amendments as a request for comment in April 2018 and, following a public consultation period, they were approved by the Canadian Securities Administrators.

IIROC continues to focus on cybersecurity preparedness as a part of its strategic plan and annual priorities. IIROC's work has included conducting table-top test scenarios with firms, publishing guides about Cybersecurity Best Practices and about Cyber Incident Management Planning, as well as administering mandatory cybersecurity self-assessment surveys of IIROC-regulated firms. In April 2019, IIROC announced the results of the latest surveys, showing that Canadian investment firms have taken concrete steps to manage cybersecurity threats and to protect their clients and businesses.

***

About IIROC:

IIROC is the pan-Canadian self-regulatory organization that oversees all investment dealers and their trading activity in Canada's debt and equity markets. IIROC sets high quality regulatory and investment industry standards, protects investors and strengthens market integrity while supporting healthy Canadian capital markets. IIROC carries out its regulatory responsibilities through setting and enforcing rules regarding the proficiency, business and financial conduct of more than 170 Canadian investment dealer firms and their more than 29,000 registered employees, the majority of whom are commonly referred to as investment advisors. IIROC also sets and enforces market integrity rules regarding trading activity on Canadian debt and equity marketplaces.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - General News


These press releases may also interest you

at 16:35
Natuzzi S.p.A. - In accordance with the Securities and Exchange Commission ("SEC") Order Under Section 36 of the Securities Exchange Act of 1934 Granting Exemptions from Specified Provisions of the Exchange Act and Certain Rules Thereunder (SEC...

at 16:35
Babcock & Wilcox Enterprises, Inc. ("B&W Enterprises") announced today fourth quarter 2019 GAAP income from continuing operations of $5.5 million, an improvement of $232.8 million compared to a loss of $227.4 million in fourth quarter 2018. Adjusted...

at 16:30
Kimco Realty Corp. will now announce its first quarter 2020 earnings on Friday, May 8, 2020 before market open. You are invited to listen to our quarterly earnings conference call, which will be broadcast live over the Internet on Friday, May 8,...

at 16:30
Hemisphere Media Group, Inc. ("Hemisphere" or the "Company"), today provided a business update related to the impact of COVID-19.  Alan J. Sokol, President and CEO of Hemisphere Media Group, Inc., stated, "We are facing an unprecedented global...

at 16:30
An economic crisis can strike anytime, and the latest black swan event that we've entered is the best proof. Such an unpredictable and unforeseen event, unfortunately, comes with some extreme consequences, and people have to prepare for bleak times....

at 16:30
Mack-Cali Realty Corporation (the "Company" or "Mack-Cali") today announced that the Mack-Cali Board of Directors has formed a committee (the "Annual Meeting Committee") to review and approve the recommendations of the Nominating and Corporate...



News published on 14 november 2019 at 11:19 and distributed by: