TORONTO, Oct. 19, 2017 /CNW Telbec/ - The Canadian Securities Administrators (CSA) today published CSA Staff Notice 33-321 Cyber Security and Social Media, which summarizes survey results of registered firms' cyber security and social media practices, in addition to providing guidance to firms in these areas.

The survey found that more than half (51 per cent) of firms experienced a cyber security incident in 2016. Common incidents reported included phishing (43 per cent), malware incidents (18 per cent) and fraudulent email attempts to transfer funds or securities (15 per cent).

"Preparation is key to mitigating cyber security threats," said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. "We encourage all firms to perform comprehensive risk assessments, and evaluate the strength of existing policies, employee training programs and response plans as they relate to vulnerabilities in these areas."

The notice summarizes results from a survey on the cyber security and social media practices of 649 registered firms, which include investment fund managers, portfolio managers and exempt market dealers. Questions were structured to gather relevant information on cyber security policies and plans, social media practices, third-party vendors and the frequency of risk assessments.

Registered firms should continue to implement clear cyber security and social media policies and procedures. CSA staff will maintain efforts to review the cyber security and social media practices of firms through compliance reviews.

The notice can be found on CSA members' websites.

The CSA, the council of securities regulators of Canada's provinces and territories, coordinates and harmonizes regulation for the Canadian capital markets. 

For more information:




Kristen Rose

Hilary McMeekin

Ontario Securities Commission

Alberta Securities Commission

416-593-2336

403-592-8186



Alison Walker

Sylvain Théberge

British Columbia Securities Commission

Autorité des marchés financiers

604-899-6713

514-940-2176 



Jason (Jay) Booth

Andrew Nicholson

Manitoba Securities Commission

Financial and Consumer Services

204-945-1660

Commission, New Brunswick


506-658-3021



David Harrison

Steve Dowling           

Nova Scotia Securities Commission

Government of Prince Edward Island,   

902-424-8586

Superintendent of Securities  


902-368-6288 



John O'Brien

Rhonda Horte

Office of the Superintendent of Securities

Office of the Yukon Superintendent of

Newfoundland and Labrador

Securities        

709-729-4909

867-667-5466



Jeff Mason

Tom Hall

Nunavut Securities Office

Office of the Superintendent of Securities

867-975-6591

Northwest Territories


867-767-9305



Shannon McMillan


Financial and Consumer Affairs


Authority of Saskatchewan


306-798-4160


 

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Last update: September 25, 2020