Cybersecurity guidance from investment industry organization

Cyber risk management is an increasingly important challenge for organizations of all kinds. The Investment Industry Regulatory Organization of Canada (IIROC), the national self-regulatory organization that oversees investment dealers and their trading activity in Canadian markets, has published detailed guidance to help investment dealer firms manage cybersecurity risks. The guidance provides useful checklists and helpful summaries of industry standards and best practices. The guidance emphasizes the need for organizations to proactively manage cyber risks and to prepare for cybersecurity incidents.

Cyber Risks

Cyber risks are the risks of harm, loss and liability (e.g. business disruption, trade secret disclosure, financial loss, loss to stakeholder value, reputational harm, legal noncompliance liability and civil liability to customers, business partners and other persons) to an organization resulting from a failure or breach of the organization’s information technology systems. Cyber risks can result from internal sources (e.g. employees, contractors, service providers and suppliers) or external sources (e.g. nation states, terrorists, hacktivists, competitors and acts of nature). For the full article click here 

from cyber security caucus http://ift.tt/1JKp87T
via IFTTT

Exclusive: Illumio Taps Former NSC Guru as Strategy Chief

Illumio, the hot cybersecurity startup that aims to protect corporate infrastructure in internal data centers and outside clouds, has hired Nathaniel Gleicher, former director for cybersecurity policy for the National Security Council.

In that role, which he held for nearly three years, Gleicher reported to Michael Daniel, special assistant to the President and the cybersecurity coordinator. Going forward in his new position, Gleicher will be Illumio’s public voice on policy and will oversee its cybersecurity technology strategy, the company said. For the full article click here 

from cyber security caucus http://ift.tt/1N7a0MF
via IFTTT

Governor Otter pushes cyber security in state-of-the-state

In his State-of-the-State address, Governor C.L. “Butch” Otter discussed increasing cybersecurity for the Gem State.

“Our task force is working to identify what more the state can do to detect vulnerabilities, prevent cyber attacks, mitigate damages, and educate the people of Idaho on how to fight this global tool of crime and terror,” said Governor Otter in his speech.

That “task force” the governor brought up is the newly created collaboration between the Idaho National Laboratory and Boise State University that work together to thwart cyber attacks.

“The nation is facing a significant challenge in protecting ourselves in cyber threats. Specifically in our critical infrastructure,” said Brent Stacey, the associate lab director for Security at the INL.  For the full article click here 

from cyber security caucus http://ift.tt/1nien2y
via IFTTT

South Korea says raises cybersecurity alert level: Yonhap

The unification ministry in Seoul said there has been no government decision on what North Korea needs to do to end the broadcasts, which began at noon local time (3am GMT/2pm AEDT) on Friday.

Obama also discussed options with President Park Geun-hye of South Korea.

North Korea says it’s being pushed to the brink of war by South Korea’s loudspeaker propaganda.

A total of 124 South Korean firms are running factories with about 54,000 North Koreans working at the factory zone, the last remaining symbol of inter-Korean reconciliation, which opened in 2004.

The majority of North Korea’s business is done with China, which bought 90 percent of its exports in 2013, according to data from South Korea’s International Trade Association.

Florida Sen. Marco Rubio, another presidential candidate, said in a statement that the nuclear test, if confirmed, “will be just the latest example of the failed Obama-Clinton foreign policy”, referring to Kerry’s predecessor and the current Democratic front-runner, Hillary Clinton. For the full article click here 

from cyber security caucus http://ift.tt/1nieoDH
via IFTTT

Think long-term: Hong Kong cybersecurity firm boss says support too focused on start-ups

Michael Gazeley, founder of Hong Kong cybersecurity firm Network Box, said policies announced by Chief Executive Leung Chun-ying focused too heavily on start-ups without providing support for these companies further down the line.

Since founding Network Box 15 years ago, Gazeley said the Hong Kong government had not done enough to promote or help develop a marketplace for locally developed technology.

“Until Hong Kong wakes up, and creates a healthy marketplace for local IT developers to thrive in, it will remain difficult for even the very best of IT start-ups to survive, let alone become true global successes,” he said. For the full article click here 

from cyber security caucus http://ift.tt/1nieoDF
via IFTTT

Incident response in the spotlight

SCOOP: WHITE HOUSE MULLS CYBER INCIDENT RESPONSE — The White House is devising a plan specifying federal agencies’ responsibilities in the event of a crippling cyberattack, which could be released as an executive order or presidential directive in the next few months, MC has learned. The guidance will address the federal response to a cyberattack against “critical infrastructure,” including power plants, chemical facilities, banks and telecommunications providers, according to industry officials. The goal is to ensure agencies are focused on chasing hackers out of compromised systems rather than figuring out who to call or talking to lawyers.

“This is outlining specific roles and responsibilities and tasks for agencies, saying ‘DHS, you do this’ and ‘FBI, you go do this’ … a high-level, whole-of-government approach,” one executive told Joe. The Homeland Security Department is also updating its cyber incident response plan, which has languished for more than five years in interim form, according to people familiar with the discussions. For the full article click here 

from cyber security caucus http://ift.tt/1Rk6OVN
via IFTTT

The Morning Leverage: SEC Turns Its Attention to PE’s Cybersecurity Policies

From this morning’s LBO Wire:
Private equity firms may want to beef up their cybersecurity policies, prior to the next wave of investment advisor examinations from the Securities and Exchange Commission. As Dawn Lim reports in this morning’s LBO Wire, the SEC plans to focus more attention on the policies and procedures that private equity firms and other registered investment advisors put in place to protect the sensitive data they manage.

Cybersecurity is one of a number of priorities that the SEC has indicated for the coming year, along with “pay-to-play and certain other key risk areas related to advisers to public pensions,” Ms. Lim reports. For the full article click here 

from cyber security caucus http://ift.tt/1P7IsIj
via IFTTT