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Financial Institutions: G-7 guidance on cyber security in the financial sector

  • United Kingdom
  • Privacy, data protection and cybersecurity
  • Financial institutions

19-01-2018

Eversheds Sutherland article on the laws & regulations applicable to Cyber Security for Financial Institutions in the G-7 Countries.

G-7 guidance on cyber security in the financial sector

In this article, Craig Rogers and Michael Bahar discuss the impact and effect of the G-7 countries’ Cyber Expert Group’s guidance on effect controls for cybersecurity in the financial sector.

They consider the patchwork of overlapping legislation and regulation, and assess the interplay of the G7 guidance with national and supra-national legislation. They then compare application legislation & regulation in each of the G7 Countries (UK, US, France, Italy, Germany, Canada and Japan) to comment on how the Financial Services sector is responding to the evolving cyber-threat landscape.

Is it not so much an absence of regulation, but rather a lack of a consistent regulatory framework which hampers banks’, insurers’ and FS institutions’ ability to adopt a uniform, global compliance model?

Originally published in “Cyber Security Practitioner” December 2017.

To read the full article click here.

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