ICMA AMIC responds to EC consultation on improving resilience of financial services against cyberattacks

 

19 March 2020 Based on the ESA’s opinion issued in April 2019, the EC is considering introducing changes to the sectorial legislation (e.g. UCITS, AIFMD) to enhance cyber-resilience. In our response we argue that the regulatory framework already allows us to address cyber-risk in the asset management industry.

This has given supervisors the possibility to thoroughly test the cyber-resilience of asset managers. There is therefore no legal impediment and no need to reopen sectorial rules to enhance cyber-resilience in the asset managment sector.
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