Join the Community

22,188
Expert opinions
44,252
Total members
405
New members (last 30 days)
212
New opinions (last 30 days)
28,727
Total comments

For infosec the only way is global

With information security rapidly gaining prominence over the last few years legislators have jumped into action to improve safeguards and public confidence in IT systems. While information security concerns prevail across all industries, in financial services due regard for them is absolutely crucial to the maintenance of functioning markets. Just imagine CCPs losing data on their clients’ positions, or banks tweeting their clients’ accounts balances – not scenarios to be taken lightly!

Covering everything from data protection (e.g. GDPR in Europe) to cybersecurity (e.g. NYCRR 500 in New York State), there is no shortage of regulation enveloping our industry. The latest addition is a consultation on the Singaporean Cybersecurity Bill. Even before it’s finalised some commonality with other regulations is apparent, such as defining essential/critical services and introducing specific requirements around monitoring, reporting and risk mitigation.

Financial markets have a long history of lobbying for global standards and serving a worldwide customer base and striving for harmonisation is even more relevant where information security is concerned. Global trade of any kind relies on global IT systems being compliant in any and all of the regions in which they operate. That makes the adoption of global infosec standards the only feasible way forward.

 

External

This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

Join the Community

22,188
Expert opinions
44,252
Total members
405
New members (last 30 days)
212
New opinions (last 30 days)
28,727
Total comments

Trending

Boris Bialek

Boris Bialek Vice President and Field CTO, Industry Solutions at MongoDB

Enhancing Digital Banking Experiences with AI

Barley Laing

Barley Laing UK Managing Director at Melissa

Reducing the impact of AI-driven fraud in 2025

Now Hiring