Experts question CPMI-Iosco cyber guidance

Speedy settlement and resumption of services after cyber attack could be counterproductive

Toy soldiers on keyboard representing cyber security
CPMI and Iosco are calling on FMIs to beef up their cyber defences

The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (Iosco) published their final Guidance on cyber resilience for financial market infrastructures on June 29. But industry sources say it would be difficult and even dangerous to comply with some of the groups’ expectations – in particular, a requirement that financial market infrastructures (FMIs) resume services rapidly following an extreme cyber attack.

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