On April 6, 2016, the International Organization of Securities Commissions (IOSCO) released a report This link will open in a new window prepared by Louis Morisset, AMF President and CEO, in his capacity as coordinator of work conducted on cyber security issues. The report provides a review of various cyber security practices implemented to date and the tools available to respond to cyber risk and ensure the integrity of information.
"The report is a toolbox intended for regulators, organizations and professionals operating in the financial ecosystem to help them identify and adopt value-added approaches to dealing with the growth of cyber risk," said Mr. Morisset.
As highlighted in the report, cyber risk is not "just another risk." It is a unique, highly complex and rapidly evolving phenomenon. In light of rapidly evolving technologies and the growing number of threats, the issue requires sustained attention by regulators and market participants.
The report places special emphasis on cooperation. Indeed, in a highly interconnected and interdependent financial ecosystem, all financial system stakeholders must work together to enhance cyber security in a consistent manner.
The report was prepared by the AMF with the assistance of the China Securities Regulatory Commission and the Monetary Authority of Singapore.