Regulatory Alerts2018-09-21
Amendments Proposed to the Regulation on Supervision of Electronic Financial Transactions
The Financial Services Commission proposed amendments to expand the scope of data managed in cloud environments and establish standards for their secure provision within the financial sector. These changes follow July 16, 2018 measures aimed at accelerating cloud service adoption by financial institutions. The updated regulation clarifies compliance requirements for electronic transactions, ensuring that cloud-based data handling meets established security benchmarks.
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