RBNZ reveals cyber resilience guidance, and more daily news

RBNZ has revealed that the cyber resilience guidance for regulated entities has been finalised. The guide outlines cyber resilience expectations for all entities regulated by the RBNZ. International and national cybersecurity standards were used to create the guide. The guide is designed to raise awareness and promote cyber resilience of the financial sector, with a focus on the board and senior management level of all regulated entities. RBNZ has said that the guide provides high-level principle-based recommendations for entities and is intended to be used as an overarching framework for governance and management of cyber risk. The guide can be tailored to meet the specific needs and technologies of entities.

“The Reserve Bank – Te Pūtea Matua has finalised its guidance on what regulated entities should consider when building their cyber resilience.

The guidance outlines the Reserve Bank’s expectations around cyber resilience, and draws heavily from leading international and national cybersecurity standards and guidelines. The guidance applies to all entities the Reserve Bank regulates, including registered banks, licensed non-bank deposit takers, licensed insurers and designated financial market infrastructures

The finalised guidance on cyber resilience aims to raise awareness of, and ultimately promote, the cyber resilience of the financial sector, especially at the board and senior management level of regulated entities.

The guidance provides high-level principle-based recommendations for entities and primarily serves as an overarching framework for the governance and management of cyber risk, which entities can tailor to their own specific needs and technologies, rather than as an explicitly detailed or technical set of instructions.

The intention is to illustrate current best practice and encourage continual improvement beyond these practices into all areas where entities can further strengthen their cyber resilience.” Click here to read more

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