CSA releases review of registered firms’ cyber security and social media practices
Oct 19, 2017
On October 19, 2017, the Canadian Securities Administrators (CSA) published CSA Staff Notice 33-321 "Cyber Security and Social Media", which summarizes survey results of registered firms’ cyber security and social media practices, in addition to providing guidance to firms in these areas.
The survey found that more than half (51 per cent) of firms experienced a cyber security incident in 2016. Common incidents reported included phishing (43 per cent), malware incidents (18 per cent) and fraudulent email attempts to transfer funds or securities (15 per cent).
The notice summarizes results from a survey on the cyber security and social media practices of 649 registered firms, which include investment fund managers, portfolio managers and exempt market dealers. Questions were structured to gather relevant information on cyber security policies and plans, social media practices, third-party vendors and the frequency of risk assessments.
Review the press release and Staff Notice on the CSA members' websites.
