COVID-19 FCA updates information for firms with expectations on information security

Regulatory Updates | 06/05/20

The Financial Conduct Authority (FCA) has updated its ‘Coronavirus (COVID-19): Information for firms’ webpage to include information on its expectations of firms with regard to information security. The FCA notes that as more organisations enable their employees to work from home, online systems are becoming increasingly mission critical, and that cyber criminals are exploiting the situation. The FCA expects firms to prioritise information security and ensure that adequate controls are in place to manage cyber threats and respond to major incidents. This should include the implantation of enhanced monitoring to protect end points, information, and firm-critical processes, including network connections and video conferencing software.