Regulatory Guidance – Cyber Security

The Isle of Man Financial Services Authority (‘Authority’) has today published its Regulatory Guidance in relation to Cyber Security and a copy of the guidance can be found on the Authority’s Publications webpage.

The guidance has been issued under section 12 of the Financial Services Act 2008, section 34 of the Insurance Act 2008 and section 42 of the Retirement Benefits Schemes Act 2000, and it aims to help entities regulated under those Acts to understand the Authority’s expectations and to comply with existing requirements in the context of cyber security.

For licenceholders under the Financial Services Act 2008: Due to the close proximity to the date that the Financial Services Rule Book 2016 (‘2016 Rule Book’) comes into operation (1 January 2017), the guidance contains references to the 2016 Rule Book rather than the current 2013 Rule Book. In order to assist readers, the Authority’s Legislation and guidance for licenceholders webpage contains the final version of the 2016 Rule Book and a tracked changes version showing changes from the 2013 Rule Book to the 2016 Rule Book.