GFSC Consultation on Cyber Security Rules and Guidance: An Issue for the Boardroom
15 October 2020
The Guernsey Financial Services Commission (GFSC) has issued a consultation paper seeking feedback on its proposal to introduce Cyber Security Rules (the Cyber Security Rules). The proposal follows on from the GFSC's 2019 Cyber Risk Thematic, which suggested that local industry supported a set of rules and guidance that follows 5 core principles, namely Identify, Protect, Detect, Respond and Recover. The draft Cyber Security Rules are now subject to consultation until 2 November 2020 after which the GFSC intends to issue a final set of rules and guidance with direct application to all licensees licensed under Guernsey's regulatory laws.