Happy New Year to all of our readers of the Global Regulatory Frameworks Compared Series! As a recap, in recent months, we have been taking a deep dive into the different regulatory bodies that govern the cybersecurity requirements of the Financial Sector. One of the key issues we’ve covered is the misalignment of cybersecurity standards across the board, which in turn led to the introduction of a pan-European framework that could be leveraged across the whole of the Eurozone – TIBER EU.
While the UK and Europe have a fairly coordinated approach with the CBEST and TIBER Frameworks, Asia has a slightly different approach. In part 4 of this series, we’ll be taking a look at the iCAST Framework, governed by the Hong Kong Monetary Authority (HKMA).