APRA Proposes Amendments to CPG 234 Related to Information Security
APRA is proposing the cross-industry Prudential Practice Guide 234 Information Security (CPG 234), which will replace the existing CPG 234 Management of Security Risk in Information and Information Technology. Comments are requested by May 17, 2019.
APRA released, in November 2018, a new Prudential Standard CPS 234 Information Security (CPS 234) that applies to all APRA-regulated entities from July 01, 2019. When releasing CPS 234, APRA noted that it would consult on an updated CPG 234. The CPG 234 is designed to assist regulated entities in complying with CPS 234 on an ongoing basis and conveys observations of APRA on what constitutes good practice in information security. The key matters covered in the updated draft CPG 234 include the following:
- Guidance on information asset identification and classification
- Details to assist APRA-regulated entities when notifying APRA of information security incidents and information control weaknesses, as required under CPS 234
- Various matters for which APRA, through its ongoing supervision, has identified deficiencies in the practices of regulated entities
The guide is aimed at boards and senior management as well as risk and information technology experts within regulated entities. It outlines how entities can maintain information security capabilities commensurate with the size and complexity of their business and the sensitivity of the data they possess. It also explains how entities can optimize their resilience when aspects of their information security are managed by third parties.
Related Links
Comment Due Date: May 17, 2019
Keywords: Asia Pacific, Australia, Banking, Insurance, CPS 234, CPG 234, Information Security, APRA
Previous Article
BoE and PRA Update PS5/19 on Approach for Withdrawal from EURelated Articles
EBA Updates Filing Rules for Supervisory Reporting
The European Banking Authority (EBA) published version 5.1 of the filing rules for supervisory reporting.
ECB Amends Guideline on Procedures for Collection of AnaCredit Data
The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.
ECB Amends Guideline on Procedures for Collection of AnaCredit Data
The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union.
EBA Publishes Standards on Disclosure of Investment Policy Under IFR
The European Banking Authority (EBA) published the final draft regulatory technical standards on disclosure of investment policy by investment firms, under the Investment Firms Regulation (IFR).
APRA Finalizes Guidance for New Prudential Standard on Remuneration
The Australian Prudential Regulation Authority (APRA) published the prudential practice guide CPG 511 to assist banks, insurers, and superannuation licensees in meeting requirements of CPS 511, the new prudential standard on remuneration.
OCC Updated LIBOR Self-Assessment Tool for Banks
The Office of the Comptroller of the Currency (OCC) published a bulletin that provides an updated self-assessment tool for banks to evaluate their preparedness for cessation of the London Interbank Offered Rate (LIBOR).
TCFD Updates Guidance for Financial Disclosures on Climate Risk
The Financial Stability Board (FSB) published a report that examines the progress made toward disclosures aligned with recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
BCBS Report Examines Progress on Adoption of Basel III Framework
The Basel Committee on Banking Supervision (BCBS) published the progress report on adoption of the Basel III regulatory framework in member jurisdictions.
ACPR Implements Updates Related to DPM Version 3.1
The French Prudential Supervisory Authority (ACPR) has implemented, in its information system, updates linked to the Data Point Model (DPM) version 3.1.
EBA Note Examines Transition Risks of Benchmark Rates
The European Banking Authority (EBA) published a thematic note that aims to identify and raise awareness of the transition risks of benchmark rates, as the London Interbank Offered Rate (LIBOR) and the Euro Overnight Index Average (EONIA) are close to being phased out.
