Payment, Clearing and Settlement Operators Meet on Global Cyber Resilience

Proshare

Friday, September 14, 2018 / 02:43 PM / IOSCO

 

Key global and regional payment, clearing and settlement operators met at a roundtable in Paris on Friday to discuss cyber security and the resilience of financial market infrastructures (FMIs) and the wider market ecosystem. 

Senior executives, together with authorities, discussed continued  collaboration, preparation for and responses to cyber incidents, with a particular focus on cross-border actions.

“Against a backdrop of rising cyber threats, which respect no borders, it is important to have international coordination on these vital issues,” Bank of France Governor François Villeroy de Galhau said. 

The meeting, hosted by the Bank of France, was convened by the international standard setting bodies for FMIs, the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO), who issued guidance on cyber resilience in 2016. 

“It is vital for authorities and operators to work together to advance FMIs’ ability to withstand increasingly complex cyber-threats, and to restore services in a timely way in the event of a successful attack,” said CPMI Chair Benoît Cœuré.

“Ongoing industry engagement on this critical issue has been encouraging and it is essential that we continue to develop this partnership to reinforce the cyber resilience of financial market infrastructure,” said IOSCO Board Vice-Chair Jean-Paul Servais.


Proshare Nigeria Pvt. Ltd.


Related News

1.       U.S. SEC Adopts Amendments To Simplify And Update Disclosure Requirements

2.      FSB, CPMI, IOSCO and BCBS Study Highlights Continued Central Clearing Interdependencies

3.      FSB and Standard-setting Bodies Consult on Effects of Reforms on Incentives to Clear OTC Derivatives

4.      SEC Proposes New Rule on Nominee Companies; Major and Sundry Amendments to Its Rules and Regulations

5.      SEC Nigeria 2018 Q2, CMC Meeting To Discuss Capital Market Masterplan, Others

6.      CPMI-IOSCO Assessment Concludes That Canada Has Broadly Implemented The PFMI

7.      CBN Releases The Revised Nigeria Bankers’ Clearing System Rules

8.     IOSCO Issues Recommendations to Help Trading Venues Manage Extreme Volatility

9.  New Regulations To Prevent Financial Crises And Improve Financial Stability
READ MORE:
Related News
SCROLL TO TOP