Magazine article Information Management

Canadian Organization Releases Cybersecurity Guides

Magazine article Information Management

Canadian Organization Releases Cybersecurity Guides

Article excerpt

[ILLUSTRATION OMITTED]

A self-regulatory organization that helps monitor Canada's trading industry has released two guides to help investment dealers protect themselves and their clients in the event of a cyber attack.

The Investment Industry Regulatory Organization of Canada (IIROC) introduced "Cybersecurity Best Practices Guide" as a living document that can be updated to include the latest practices on governance and risk management, network security, and more. The 53-page guide also features a cybersecurity incident checklist and a sample vendor assessment, according to Legaltech News. The guide covers everything from basic security for computer networks to cost-effective approaches to securing computer systems without the burden of additional regulatory requirements.

The second guide, "Cyber Incident Management Planning Guide," focuses more narrowly on actions to take when a breach occurs. The 29-page document examines the five stages of cybersecurity incident management--plan and prepare, detect and report, assess and decide, respond, and post-incident activity--in addition to the current state of information sharing and breach reporting requirements.

According to the IIROC, the guide provides a framework for developing a plan but is not "intended to function as a working response plan. …

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