KUALA LUMPUR (OCT 31): The Securities Commission Malaysia (SC) has issued new guidelines to enhance the cyber resilience of the capital market by requiring capital market entities to establish and implement effective governance measures to protect investors. The ‘Guidelines on Management of Cyber Risk’ (Guidelines) which takes effect today, details the roles and responsibilities of the board and senior management in enhancing cyber security of the entity; and it also requires the entities to identify someone to be in charge of effective cyber risk management, according to a statement released today. The Guidelines also require the involvement of the board and senior management to ensure sufficient efforts are made to combat cyber risk issues, determine risk tolerance and priorities, and assign sufficient resources to cyber resilience. Regulated market entities will be required to report cyber incidents to the SC, who will be in ongoing collaboration with entities to further enhance resilience efforts. It will also provide a platform for SC to collaborate with market entities and stakeholders to enhance cyber resilience on an ongoing basis,” it said.

Source: The Edge Markets October 31, 2016 09:44 UTC