Hackers Beware - Jersey's financial regulator is looking to place greater emphasis on cyber risk management in its Code of Practice to make sure companies have policies in place to identify threats, protect assets, and act quickly in case of an incident.
The powers of the Jersey Financial Services Commission to impose civil financial penalties for significant and material contraventions of the Codes of Practice have been extended by the Financial Services Commission (Amendment No.7) (Jersey) Law 2018 following the amendments to the Financial Services Commission (Financial Penalties) (Jersey) Order 2015.
Following the MONEYVAL Assessment released in May 2016, a consultation has just closed in order for the Jersey Financial Crime Strategy Group to consider responses to legislative proposals for change.
