September 18, 2018

September 18, 2018

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September 17, 2018

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FS-ISAC Launches Information Sharing Forum for Government Entities

On June 11, 2018, the Financial Services Information Sharing and Analysis Center (“FS-ISAC”) announced the launch of the CERES Forum, an information sharing initiative for central banks, regulators, and supervisors designed to strengthen responses to cyber and physical threats.  The new forum will become operational on July 1, 2018.

Although FS-ISAC primarily comprises private financial institutions and over three dozen government entities, membership in the CERES Forum will be limited to government participants.  To protect the confidentiality of existing FS-ISAC members and ensure information shared within the CERES Forum is kept separate, government participants will be required to follow different processes and access the new forum through a secure standalone portal.

In addition to serving as a trusted medium for central banks, regulators, and supervisors, the CERES Forum’s stated mission is to:

  • Gather and share best practices related to regulatory and compliance controls;

  • Collect feedback about which controls are most effective; and

  • Distribute timely threat intelligence about cyber threats, vulnerabilities, and incidents that could affect CERES Forum members and the wider global financial system.

The launch of FS-ISAC’s CERES Forum reflects the growing trend of sophisticated cyberattacks and data breaches targeting financial institutions, including central banks, around the world.  It is the first information sharing forum tailored to address the needs of central banks, regulators, and supervisors.

© 2018 Covington & Burling LLP

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About this Author

Weiss Nusraty, Covington, litigation lawyer
Associate

Weiss Nusraty advises clients on cybersecurity and national security matters, including cyber and data security incident response, and government and internal investigations.

Mr. Nusraty joined Covington from the U.S. Department of the Treasury where he served as a Policy Advisor within the Office of Terrorism and Financial Intelligence. In that role, Mr. Nusraty developed and implemented strategies on a range of matters, including financial sanctions, anti-money laundering and counter-terrorist financing. He worked closely with the intelligence community and...

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