Canadian Securities Regulators Publish Update on Cyber Security for Market Participants

MONTREAL, Sept. 27, 2016 /CNW Telbec/ - The Canadian Securities Administrators (CSA) today published CSA Staff Notice 11-332 Cyber Security to promote cyber-security awareness, preparedness and resilience in Canadian capital markets.

The cyber-security landscape has evolved considerably in recent years, as cyber attacks have become more frequent, complex and costly for organizations. As a result, the CSA is working to promote cyber-security awareness, preparedness and resilience, including examining how to improve collaboration and communication with market participants on these issues.

"We have identified cyber security as a priority in the CSA 2016-2019 Business Plan," said Louis Morisset, Chair of the CSA and President and CEO of the Autorité des marchés financiers. "It is crucial for us to improve collaboration and communication on cyber-security issues with market participants. We want to ensure they are aware of the challenges, have a sufficient level of preparedness, and are as resilient as possible against cyber risks."

CSA members intend to re-examine the disclosure of some of the larger issuers in the coming months. CSA findings and recommendations stemming from those reviews are anticipated to be published subsequently.

The CSA also intends to hold roundtable sessions with market participants in the coming months to discuss cyber security issues and risks, and the need for coordination and information sharing.

This Notice updates Staff Notice 11-326 Cyber Security, published on September 26, 2013, which called attention to the challenges of cyber-crime and the need for market participants to take appropriate protective measures to safeguard themselves and their clients or stakeholders.

CSA Staff Notice 11-332 can be found on CSA members' websites.

The CSA, the council of the securities regulators of Canada's provinces and territories, co-ordinates and harmonizes regulation for the Canadian capital markets.

For more information:
Sylvain Théberge Autorité des marchés financiers 514-940-2176		Kristen Rose Ontario Securities Commission 416-593-2336
Nicole Tuncay Alberta Securities Commission 403-297-4008		Alison Walker British Columbia Securities Commission 604-899-6713
Jason (Jay) Booth Manitoba Securities Commission 204-945-1660		Andrew Nicholson Financial and Consumer Services Commission, New Brunswick 506-658-3021
Jane Anderson  Nova Scotia Securities Commission 902-424-0179		Janice Callbeck Office of the Superintendent of Securities Prince Edward Island 902-368-6288
John O'Brien Office of the Superintendent of Securities Newfoundland and Labrador 709-729-4909		Rhonda Horte Office of the Yukon Superintendent of Securities 867-667-5466
Jeff Mason Nunavut Securities 867-975-6591		Tom Hall Office Office of the Superintendent of Securities Northwest Territories 867-767-9305
Shannon McMillan Financial and Consumer Affairs Authority of Saskatchewan 306-798-4160

SOURCE Autorité des marchés financiers

For further information: Sylvain Théberge, Autorité des marchés financiers, 514-940-2176; Kristen Rose, Ontario Securities Commission, 416-593-2336; Nicole Tuncay, Alberta Securities Commission, 403-297-4008; Alison Walker, British Columbia Securities Commission, 604-899-6713; Jason (Jay) Booth, Manitoba Securities Commission, 204-945-1660; Andrew Nicholson, Financial and Consumer Services, Commission, New Brunswick, 506-658-3021; Jane Anderson, Nova Scotia Securities Commission, 902-424-0179; Janice Callbeck, Office of the Superintendent of Securities, Prince Edward Island, 902-368-6288; John O'Brien, Office of the Superintendent of Securities, Newfoundland and Labrador, 709-729-4909; Rhonda Horte, Office of the Yukon Superintendent of Securities, 867-667-5466; Jeff Mason, Nunavut Securities, 867-975-6591; Tom Hall, Office Office of the Superintendent of Securities, Northwest Territories, 867-767-9305; Shannon McMillan, Financial and Consumer Affairs, Authority of Saskatchewan, 306-798-4160