Report on IOSCO’s cyber risk coordination efforts
At its February 2014 meeting in Kuala Lumpur, the
Board (IOSCO Board) of the International Organization of Securities Commissions (IOSCO) decided to investigate how IOSCO can further support its members and
market participants in enhancing cyber security in securities markets.
The IOSCO Board recognized that cyber risk constitutes
a growing and significant threat to the integrity, efficiency and soundness of
financial markets worldwide.
In view of the fact that this threat impacts many
different components of securities markets, and to ensure a coherent and
efficient use of IOSCO’s resources, a board-level coordinator was consequently
nominated (namely the Quebec AMF with the assistance of the China Securities
Regulatory Commission and the Monetary Authority of Singapore) to coordinate
and guide the work otherwise conducted by various IOSCO Policy committees and
other stakeholders on cyber security issues.
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