Regulatory Alerts2021-10-20
Cyber Security Rules and Guidance, 2021
The Guernsey Financial Services Commission issued the Cyber Security Rules, 2021 to mandate that all licensed firms implement robust policies, procedures, and controls to identify, assess, and manage cyber security risks. The regulatory framework requires licensees to adhere to five core principles—Identify, Protect, Detect, Respond, and Recover—tailored to the size, nature, and complexity of their specific business operations. Additionally, firms must maintain comprehensive incident response and recovery plans and notify the Commission promptly of any cyber security events resulting in significant data loss, service disruption, or financial impact.
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