Global Correspondence

GFMA Response to FSB Consultative Document on Achieving Greater Convergence in Cyber Incident Reporting

GFMA submitted a response to the Financial Stability Board’s consultative document on “Achieving Greater Convergence in Cyber Incident Reporting.”

The response applauds significant efforts undertaken by the FSB over the last several years to reduce regulatory fragmentation by developing common frameworks, lexicons, and a Cyber Incident Response and Recovery (CIRR) toolkit for cyber incident reporting.  To build upon this work, GFMA submitted responses to questions relating to the following overarching themes:

– Develop a globally consistent cyber incident framework
– Minimize the impact of a cyber incident
– Establish feasible reporting timelines commensurate with incident severity levels
– Promote robust information sharing to achieve collective goals
– Implement bi-directional cyber incident notification protocols
– Align FIRE with existing frameworks

– 31 December 2022 –

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