Canadian industry regulator requires investment companies to report cybersecurity attacks

This translation has been automatically generated and has not been verified for accuracy.Canadian investment companies will be required to report cybersecurity attacks within days of an occurrence, allowing the industry regulator to alert other brokerages of risks.

“Mandatory reporting of cybersecurity incidents will allow IIROC to analyze the information received for any trends, insights or intelligence,” Irene Winel, IIROC’s senior vice-president of member regulation and strategy, said in a statement on Thursday. “The Bank takes its role in safeguarding the financial system against cyberattacks very seriously," Mr. Dinis said at an information technology event in Toronto."However, we can’t tackle these challenges in isolation. We need to collaborate within the financial sector and ultimately throughout the economy to address these very real threats.”

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