Regulatory Alerts2022-02-27
Cyber resilience for regulated entities
The Prudential Regulation Authority has established a framework to enhance cyber resilience among regulated financial entities, including registered banks, insurers, and market infrastructures. This approach mandates specific governance standards, requires reporting of material cyber incidents within 72 hours, and enforces periodic data collection on cyber capabilities. The initiative is supported by cross-sector collaboration with the National Cyber Security Centre, CERT NZ, and the Financial Markets Authority to coordinate responses and mitigate systemic risks.
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