On 17 September 2015, the Hedge Fund Standards Board (HFSB) published a memo on cyber-security for hedge fund managers. The memo has been added to the HFSB "toolbox" materials, which complement its hedge fund standards. It provides:
- A brief overview of existing high level cyber-risk management tools, guidance and certification standards that can be used to develop a tailored approach to cyber-security.
- A framework to identify a firm's key digital assets (including client data, proprietary algorithms or strategies, trading book and ongoing ability to execute trades).
- Some practical "quick win" cyber-security action items.
- An overview of cyber-security projects that can be undertaken to enhance a firm's resilience, including the development of an incident response plan.
- Information on financial services regulators' requirements, guidance and approaches in relation to cyber-security.
- A set of recommendations to help firms develop their own cyber-security strategy.