SC invites public feedback on cybersecurity risk resilience

• Capital market players very dependent on IT and Internet connectivity
• Sound management of cybersecurity risk should be a key priority

 
THE Securities Commission Malaysia (SC) has published a consultation paper seeking public feedback on the proposed regulatory framework relating to the management of cybersecurity risk by capital market participants.
 
While the significant benefits of information technology (IT) are well recognised, greater dependency by capital market participants on IT and Internet connectivity has given rise to increased cybersecurity risk, the SC said in a statement.
 
This in turn raises concerns regarding the protection and preservation of the confidentiality, integrity and availability of information systems, it added.
 
The SC said it views sound management of cybersecurity risk as a key priority to further strengthen the resilience of Malaysian capital markets.
 
This includes setting the direction for effective management of risks by the company’s board of directors, and establishing internal cybersecurity policies and procedures.
 
The consultation paper in relation to the proposed regulatory framework is available on the SC’s website. Interested parties and the public are welcome to submit their comments and feedback to the address and email below before the closing date of April 29, 2016:
 
Institution Supervision Department
Securities Commission Malaysia
3 Persiaran Bukit Kiara
Bukit Kiara
50490 Kuala Lumpur
E-mail: [email protected]
Fax: 603 6201 5208
 
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