Regulatory Alerts2020-09-17
DLT Framework — Guidance Note 7 Cyber Security
The Gibraltar Financial Services Commission issued Guidance Note 7 to define the operational, technical, and organizational cybersecurity standards required of Distributed Ledger Technology Providers under Regulatory Principle 7. The document mandates that providers implement robust risk management, maintain updated systems with two-factor authentication, and ensure senior management actively oversees cyber risk governance and resource allocation. Additionally, DLT Providers must appoint dedicated information security officers, adhere to ICT governance frameworks like ISO 27001, and conduct regular independent penetration tests to validate security controls.
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