MARKET WATCHDOGS HEIGHTEN SCRUTINY OF CYBER- SECURITY

Canadian securities regulators are going to be reviewing the disclosure of large companies when it comes to cyber-security in the coming months, and publishing the results of those examinations. The Canadian Securities Administrators, an umbrella organization for provincial securities watchdogs, also intends to convene roundtable discussion groups to discuss cyber- security risks and improve coordination and information sharing between groups. “We have identified cyber-security as a priority,” said Louis Morisset, chair of the CSA and chief executive of Quebec’s Autorité des marchés financiers. “It is crucial for us to improve collaboration and communication on cyber-security issues with market participants. We want to ensure they are aware of the challenges, have a sufficient level of preparedness, and are as resilient as possible against cyber risks.” The CSA said its efforts are being made in response to an increase in the frequency, complexity, and cost of cyber attacks, and the evolving cyber-security landscape.