Regulatory Alerts2026-06-17
Added · Updated
Prudential Guideline No.13 on Information Technology Security Risk Management
The Central Bank of Solomon Islands requires licensed financial institutions to implement a minimum framework for information technology security risk management, including establishing an IT Steering Committee, developing security policies, and conducting risk assessments. Institutions must submit IT security risk reports to the regulator and have 90 calendar days from the effective date of July 1, 2018, to report on compliance and submit rectification plans for any non-compliance. Failure to comply with these requirements or submit accurate reports subjects financial institutions to monetary penalties and corrective measures such as cease and desist orders or management replacement.
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