Regulatory Alerts2023-07-31
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AWS Submission on RBNZ and FMA FMI Standards Exposure Drafts
Amazon Web Services submitted comments to the Reserve Bank of New Zealand and the Financial Markets Authority regarding their Financial Market Infrastructures Standards exposure drafts. AWS argues that the proposed guidance unfairly characterizes cloud computing as inherently risky and requests the removal of language implying heightened cyber threats from third-party providers. The submission includes ten recommendations to clarify due diligence requirements, adjust notification timeframes, and align standards with established security frameworks like the NZISM.
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