ASIC’s Report 555 Cyber resilience of firms in Australia’s financial markets (Report 555) on the cyber resilience of over 100 firms operating across Australia's financial markets is designed to:

  • raise awareness of cyber risks;
  • highlight existing good practices and areas for improvement; and
  • monitor and assess the cyber preparedness of financial markets firms.

Key insights from REP 555 include:

  • there is a growing understanding that cyber risk is a strategic, enterprise-wide issue that is on the radars of all organisations and is attracting increasing investment;
  • the disparity between large firms and small-and-medium firms reflects their investment in cyber security, the period of time cyber security has been an investment priority, and the ability to acquire highly specialised skills;
  • larger firms have demonstrated a relatively high degree of cyber resilience; and
  • small-and-medium firms are working towards developing their cyber resilience by investing in cyber security, but there is a long way to go.

See ASIC media release dated 30 November 2017.