Cyber security for financial services firms—regulatory and industry initiatives—timeline

Published by a UUÂãÁÄÖ±²¥ Financial Services expert
Checklists

Cyber security for financial services firms—regulatory and industry initiatives—timeline

Published by a UUÂãÁÄÖ±²¥ Financial Services expert

Checklists
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Cybersecurity is the infrastructure of technologies, processes and practices used to protect networks, data and technology from unauthorised access. Cybersecurity measures adopted by organisations need to guard against breaches motivated by malicious intent (whether that is financial crime, cyber terrorism, industrial espionage, hacktivism or state-sponsored attacks), or through unfortunate incidents. The ability of malicious third parties to successfully penetrate and damage an organisation is growing. This means that the security of a financial services firm’s network and the safety of its data is increasingly important, and cyber security is the focus of a number of regulatory and industry initiatives.

Key dates and publications—2024

DateDescription
7 November 2024ABI and Lloyd’s of London published Components of a major cyber event: a (re)insurance approach, a guide for (re)insurers on how to approach defining a major cyber event.
31 October 2024The FCA published a webpage containing its insights, observations and key lessons from how firms responded to the CrowdStrike outage and their preparedness to respond to future incidents.
18 October 2024The Eurosystem
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Jurisdiction(s):
United Kingdom

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