Black Arrow Cyber Tip Tuesday - Looking to 2020 and increased focus on cyber by the GFSC for all regulated financial service firms

Welcome to the final Cyber Tip Tuesday of the year, on this the last day of 2019.

As we look back over the last twelve months, the most significant thing, at least as far as regulated financial services firms in the Bailiwick are concerned, is that the GFSC is putting a lot more focus on, and changing the ways it is assessing, cyber risk - both in terms of operational risk and governance risk.

The Commission will be putting new regulations out to public consultation in the new year, but firms need to think about getting on the front foot and consider whether they are doing all they should be doing in relation to cyber security.

We know what the Commission will be looking for as we were directly involved in the thematic review that led to these new regulations, and provided direction for the regulations themselves and the changes to the way firms will be assessed as part of ongoing supervision.

Talk to us to see how we can help you to ensure that you have appropriate protections and controls in place and to help you meet the new regulations when they come into force.

Have a happy, safe and secure 2020