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IoM Regulator Releases Cyber Security Guidance

by Jason Gorringe, Lowtax.net, London
29 December, 2016

The Isle of Man Financial Services Authority, which regulates the island's financial services industry, has published cyber security regulatory guidance.

The guidance highlights the risks of inadequate cyber security to regulated entities and draws attention to a number of key legal and regulatory provisions that are relevant to this issue.

The guidance is intended to help regulated entities understand the Authority's expectations and aid compliance with existing requirements. It does not modify any existing requirements or impose any additional obligations on regulated entities.

The Authority says that while the guidance is not law, it is persuasive. Where a person follows the guidance, the Authority says this would tend to indicate compliance with associated legislative provisions.

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