December 12, 2018

December 12, 2018

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December 11, 2018

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December 10, 2018

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FSB Publishes Final Version of Cyber Lexicon

On November 12, the Financial Stability Board (FSB) published the final version of its cyber lexicon and an accompanying press release.

The FSB’s cyber lexicon is a set of approximately 50 core terms related to cybersecurity and cyber resilience in the financial sector, but is not intended to be a comprehensive lexicon of all cybersecurity and cyber resilience-related terms. Its purpose is to support the work of the FSB, regulators and financial markets participants in the following areas by:

  1. establishing a cross-sector understanding of relevant terminology relating to cybersecurity and cyber resilience;

  2. aiding in the efforts to assess and monitor the financial stability of cyber-risk scenarios;

  3. enhancing information shared;

  4. assisting efforts of the FSB and/or standard-setting bodies to provide guidance on cybersecurity and cyber resilience, including identifying effective practices.

The cyber lexicon will be used to support work on a recently announced FSB project to develop effective practices relating to financial institutions’ responses to and recovery from cyber incidents. A progress report on the project will be published by mid-2019.

The FSB will deliver the cyber lexicon at the upcoming G20 Leaders’ Summit in Buenos Aires on November 30 and December 1.

The FSB’s cyber lexicon is available here.

The FSB’s press release is available here.

©2018 Katten Muchin Rosenman LLP

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John Ahern, Financial Attorney, London, Katten Law Firm
Partner

John Ahern, partner at Katten Muchin Rosenman UK LLP and head of the London Financial Services group, focuses his practice on banking, financial services, UK and European financial markets, and related regulations. His background in private practice and as in-house counsel at a global investment bank provides him with perspective on the unique regulatory issues facing the wholesale and private banking sectors. John advises multilateral trading facilities, broker-dealers and banks on trading, clearing and settlement as well as custody of securities—both physical and...

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Carolyn H. Jackson, International Attorney, Katten Muchin law firm
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Carolyn Jackson is a partner in Katten Muchin Rosenman UK LLP and is a Registered Foreign Lawyer. She provides US financial regulatory legal advice to a broad range of market participants, including commercial banks, investment banks, investment managers, broker-dealers, electronic trading platforms, clearinghouses, trade associations and over-the-counter derivatives service providers.

Carolyn guides clients in the structuring and offering of complex securities, commodities and derivatives transactions and in complying with US securities and commodities laws and regulations. 

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Nathaniel Lalone, Katten Muchin Law Firm, Financial Institutions Attorney
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Nathaniel Lalone, a partner at Katten Muchin Rosenman UK LLP, has a broad range of experience in the regulation of financial products and financial markets, and frequently provides regulatory and compliance advice to trading venues, clearing houses and buy-side firms active in the over-the-counter (OTC) derivatives, futures and securities markets. He is actively involved in advising clients on the implementation of MiFID 2 and MiFIR in the European Union as well as the international reach of US financial services regulation. He also has significant experience with structuring...

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Neil Robson, private equity fund managers counselor, Katten Law Firm, London
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Neil Robson, a regulatory and compliance partner with Katten Muchin Rosenman LLP, focuses his practice on counseling hedge and private equity fund managers and other investment advisers on operational, regulatory and compliance issues. He regularly addresses Financial Conduct Authority (FCA) and EU authorization and compliance under both the EU Alternative Investment Fund Managers Directive (AIFM Directive) and MiFID, cross-border issues in the financial services sector, market abuse, anti-money laundering and regulatory capital requirements, formations and buyouts of...

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