On 17 September 2015, the Hedge Fund Standards Board (HFSBpublished 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.