BIS’ CPMI and IOSCO are consulting on principles for cyber resilience for FMIs. The guidance includes:
- stressing the importance of board and senior management attention to a successful cyber resilience strategy;
- enforcing the need to ensure operations resume quickly and safely after a successful cyber attack;
- recommending FMIs make use of good-quality threat intelligence and rigorous testing;
- advising that cyber resilience requires a process of continuous improvements; and
- recognising that cyber resilience cannot be achieved by an FMI alone; it is a collective endeavour of the whole “ecosystem”.
The guidance includes suggestions for FMIs and principles for supervisors. Consultation closes on 23 February 2016. (Source: BIS and IOSCO Consult on Cyber Resilience)