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World Economic Forum Report Lists CRI Profile’s Benefits to FinTechs

Washington, DC – Ahead of a planned summit in January, the World Economic Forum (WEF) FinTech Cybersecurity Consortium — a consortium made up of the world’s most prominent technology companies, governments and international non-government organizations — published a report on July 23 identifying the Cyber Risk Institute (CRI) — launched in May 2020 by the Bank … Continued

CFTC Issues Support for Standardizing Cybersecurity Preparedness Using Cyber Risk Institute’s Profile

The Commission is the latest to voice its support for the Profile, which helps financial institutions develop and maintain cybersecurity risk management programs. Washington, DC – In an official statement today, the Commodity Futures Trading Commission (CFTC) listed the Cybersecurity Profile — previously maintained by the Financial Services Sector Coordinating Council (FSSCC) and now developed … Continued

BPI-BITS Commends NAIC on Implementation of Mapping and Review for Evaluation of Controls in Information Systems

On August 30, 2019, BITS — the technology policy division of the Bank Policy Institute (BPI) — submitted a letter to the National Association of Insurance Commissioners (NAIC) commending it for implementing a mapping and review process for the evaluation of controls in information systems. This change will save cybersecurity professionals countless manhours and will … Continued

Joint Trades Offer Recommendations to NYDFS Regarding Cybersecurity Requirements for Financial Services Companies

On November 14, 2016, the Securities Industry and Financial Markets Association (SIFMA), the American Bankers Association (ABA), BITS — the technology policy division of the Bank Policy Institute (commonly referred to as “BPI,” formed in 2018 following the merger of The Clearing House Association and the Financial Services Roundtable) — the Mortgage Bankers Association (MBA), … Continued

Joint Trades Comment On NYDFS Proposed Rulemaking on Cybersecurity Requirements for Financial Services Companies

On January 27, 2017, the Securities Industry and Financial Markets Association (SIFMA), the American Bankers Association (ABA), BITS — the technology policy division of the Bank Policy Institute (commonly referred to as “BPI,” formed in 2018 following the merger of The Clearing House Association and the Financial Services Roundtable) — and the Financial Services Sector … Continued

Join Trades Respond to NAIC Cybersecurity Profile Inquiry

On February 15, 2019, the American Bankers Association (ABA), BITS — the technology policy division of the Bank Policy Institute (BPI) — the Futures Industry Association (FIA), Institute of International Bankers (IIB) and the Institute of International Finance responded to an inquiry from the National Association of Insurance Commissioner’s (NAIC) IT Examination Working Group. The … Continued

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