United States

US regulators propose to boost financial institutions’ cybersecurity policies.The Federal Reserve Board, the FDIC, and the OCC announced their joint approval of an advance notice of proposed rulemaking requesting comment on a set of enhanced cybersecurity risk management standards for large and connected entities under their supervision, as well as services provided by third parties to those entities. The enhanced standards would apply to entities with total consolidated assets of US$50 billion or more, with the most stringent measures reserved for firms considered to pose the greatest risk to the financial system. Those firms, among other things, would have to demonstrate they can get their core operations running within two hours of a cyberattack or major IT failure. (10/20/2016) CFO.


Canadian securities regulators use videos to raise awareness about client reporting requirements. The CSA announced that it is promoting four videos to raise awareness of changes to how advisers must report to their clients on the costs, performance, and value of their investments. (10/19/2016)

Roundtable on proposed protocols for meeting vote reconciliation. The OSC announced that will be holding a roundtable to discuss issues identified during consultation on CSA Multilateral Staff Notice 54-304 Final Report on Review of the Proxy Voting Infrastructure and Request for Comments on Proposed Meeting Vote Reconciliation Protocols and next steps in implementing the proposed protocols. The roundtable will take place on Friday, November 18 from 8:30 a.m. to 11:00 a.m. on the 22nd floor of the OSC’s office at 20 Queen Street West, Toronto, Ontario. The event will include panel discussions on the proposed protocols. (10/18/2016)