Technology and Cyber Security Incident Reporting
Jan 30, 2019
In January 2019, the Office of the Superintendent of Financial Institutions (OSFI) released the advisory "Technology and Cyber Security Incident Reporting", which sets out OSFI’s expectations for federally regulated financial institutions (FRFIs) with respect to the reporting of technology and cyber security incidents affecting FRFI operations.
The advisory describes characteristics of incidents that should be reported to OSFI, in addition to initial notification and subsequent reporting requirements.
The advisory comes into effect on March 31, 2019. In the meantime, FRFIs are expected to continue reporting any major incidents according to previous instructions communicated by their Lead Supervisors. Effective March 31, 2019, this Advisory supersedes any prior instructions for technology and cyber security incident reporting.
Review the press release and advisory on the OSFI's website.
