Cybersecurity within licensed corporations (LC's) has, for some time, been of concern to the SFC/MAS, Japan FSA and is increasingly being viewed by the SFC/MAS, Japan FSA as a matter of priority given the ongoing occurrence of cybersecurity incidents being reported across the financial services industry.
Many LC's are struggling with SFC/MAS, Japan FSA regulatory understanding and more often than not, overspends on high-level advisory services without concrete deliverables (Policies & Procedures) that SFC and Japan FSA considers compliant.
A circular from SFC dated March 2016 and Japan FSA revised supplements January 2016 requires LC's to take appropriate measures to critically review access and their IT framework, including seeking advice from external subject matter experts.
ITCS understands the importance and has been providing first-class IT regulatory advice to LC's and banks. ITCS Subject Matter Experts will provide a Free Assessment
to access if your firm is SFC/MAS, Japan FSA compliant or if improvements are necessary.
- In depth analysis of IT setup
- Onsite visit
- Stakeholder interview
- Full hardware Inventory
- Full presentation on results
- Detailed report based on interpretation of SFC guidelines
- Discovery Package
- Full documentation of current IT setup
- Support and join related SFC IT enquiries
- Provide best practice documentation based on SFC requirements:
Approximate cost to remediate potential breaches
- Security plan
- Authentication & Access Policy
- BCP/backup plan, etc.
- Discovery Package + Compliance Strategy Package
- Project Management
- Project Plan
- Technical Implementation
- Letter of Completion
- 3-5 years compliance roadmap
- Full Documentation