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Risk Management News

Week ending 22 October 2020

19 October 2020: The Financial Conduct Authority (FCA) has published a third insight piece on data sharing, trust and consumer freedoms, as part of its series of articles on Future Market Dynamic.

19 October 2020: The Financial Stability Board (FSB) has published its final report on ‘Effective practices for cyber incident response and recovery’ (CIRR).

As part of its response the FSB has developed a toolkit of practices that aim to assist organisations in their CIRR activities. The FSB encourages authorities and organisations to use the toolkit to enhance their cyber incident response and recovery activities.

The toolkit includes 49 practices for effective cyber incident response and recovery across seven components: (i) governance, (ii) planning and preparation, (iii) analysis, (iv) mitigation, (v) restoration and recovery, (vi) co-ordination and communication, and (vii) improvement. The final toolkit draws on the feedback from a public consultation process, including four virtual outreach meetings. The report was delivered to G20 finance ministers and central bank governors for their October meeting.

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