Financial regulator presents its cybersecurity proposals
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Financial regulator presents its cybersecurity proposals

MFSA launches consultation process for cybersecurity guidelines

Financial service providers and companies in the blockchain sector have one month to give the financial regulator feedback on its proposed cybersecurity rules for the sectors.

The guidelines, which have just been launched by the Malta Financial Services Authority, establish security protocols companies should follow, assign cybersecurity responsibilities to key roles within companies and stipulate how companies should investigate any cybersecurity incidents or breaches, among other things.

The notes will be applicable to companies such as professional investor funds investing in virtual and virtual financial asset agents, issuers and service providers.

MFSA CEO Joseph Cuschieri said the MFSA’s objective was to provide increased certainty in a complex digital world.

The guidance notes reflected the authority’s approach towards effective management of risks and the understanding of risk factors directly linked to an entity’s operation in the financial services landscape, he said.

The consultation is open until March 8. Industry participants and interested parties can respond to an online survey, available here.

 

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