Everything You Need To Know About SOX Compliance SOX compliance testing is also known as the Sarbanes-Oxyley Act of 2002. This is a U.S. law that protects investors from committing accounting fraud, especially with regards to publicly traded companies. The Act is derived from the names of two congressmen Paul Sarbanes and Michael Oxyle. This …
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All you need to know about the international standard ISO 27001 and why your financial organization needs to comply with it A BASIC UNDERSTANDING OF ISO 27001 ISO 27001 is the international standard that provides the specifications for an information security management system or ‘ISMS’. An ISMS is a policy and procedural structure that …
The digital revolution is here, but banks are ill-prepared to deal with the many facets of change. Regulators usually do not seem to be the ones driving the change in positive way, but sometimes things are different. A kind of paradigm shift at the German financial regulator might actually help financial institutions and insurers to …
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The Financial Stability Board (FSB) today published the results of a stocktake on cybersecurity regulations, guidance and supervisory practices which had been delivered to this week’s meeting of G20 Finance Ministers and Central Bank Governors in Washington DC. With the aim of enhancing cross-border cooperation, the G20 at its March 2017 meeting in Baden-Baden asked …
FSB publishes stocktake on cybersecurity regulatory and supervisory practices Read More »
The European Banking Authority (EBA) published today its final Guidelines on the assessment of the Information and Communication Technology (ICT) risk in the context of the Supervisory Review and Evaluation Process (SREP). These Guidelines are addressed to competent authorities and aim at promoting common procedures and methodologies for the assessment of ICT risk. The growing …
EBA publishes guidelines to assess Information and Communication Technology risk Read More »
The European Banking Authority (EBA) published today a Report on the Peer Review carried out on its ITS on supervisory reporting aimed at assessing how supervisory authorities have ensured its consistent and comprehensive implementation. The Report summarises the outcomes of this assessment involving the supervisory authorities of all EU Member States, the European Central Bank …
Cybersecurity is an increasingly important topic and the level and volume of sophisticated attacks grows with every year with damages from cybercrime expected to cost the world $6 trillion by 2021. Reason enough that financial institutions take it seriously and assign the necessary resources to tackle the problem. The following article gives an overview of …
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Today the Financial Conduct Authority (FCA) published its final guidance for firms outsourcing to the ‘cloud’ and other third party IT services. This report is relevant to firms who are interested in outsourcing to the cloud and other third party IT services. It may also be of interest to third party IT providers (including cloud providers), trade …
The Board of the International Organization of Securities Commissions (IOSCO) today published a report that brings together insights and perspectives from IOSCO’s various policy, stakeholder and regional committees on the topic of cyber resilience. The cyber risk constitutes a growing and significant risk to the integrity, efficiency and soundness of financial markets worldwide. In fact, …
IOSCO reports on Regulatory Approaches and Tools against Cyber Risks Read More »
Following a workshop on cloud services in the banking sector jointly hosted with the European Banking Authority (EBA) in London, the European Network and Information Security Agency (ENISA) has issued a report including a number of recommendations for the secure adoption of cloud computing in the banking sector at the EU level. Further information can …
EBA acknowledges report by ENISA on cloud services in the EU banking sector Read More »
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