On April 6, 2016, the International Organization of Securities Commissions published a report on cyber security in securities markets from an international perspective. The purpose of the report is to assist IOSCO members and market participants to enhance their cyber security in securities markets. The report outlines from an international perspective the various approaches adopted by market participants and the initiatives implemented by different regulators. The report focuses on the main regulatory challenges associated with cyber security issues across reporting issuers, trading venues, market intermediaries, asset managers and financial market infrastructures. The report states that regulators could cooperate to improve cyber security through the exchange of information on threats, security vulnerabilities and previous cyber-attacks that could ultimately be relevant for other regulated entities and market participants; specifically, information on methods used by cyber criminals, exploited vulnerabilities they are aware of, ways of preventing similar attacks previously committed and emerging cyber risk trends. IOSCO concludes that the fluid nature of securities markets requires market participants and regulators to constantly evolve their responses to cyber security issues.
The IOSCO report is available at: https://www.iosco.org/library/pubdocs/pdf/IOSCOPD528.pdf.