A CISO’s Guide to Traversing the Labyrinth of Cybersecurity Regulations

Abstract

Cybersecurity threats continue to pose increasing risks for various business sectors including financial institutions and the financial markets ecosystem. A rising array of tactics employed against companies by bad actors have heightened risks. An attack may result in a company’s loss of control of its systems, halting of its operations and disruption to customers. The fallout from such an event can impact a business for weeks or months with downstream impacts to clients and vendors who may need to resort to manual recordkeeping to reconcile data. Financial institutions must continue to safeguard their information in an effort to combat threats as they evolve. Against this backdrop, regulators continue to adopt and propose regulations to address these cybersecurity risks through policies and procedures, incident response programs, third-party management, notifications and/or public disclosures.