The Training Environment For Financial Services

Effective Cyber Security for FCA Regulated Firms

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Outline & Objectives

The latest disclosures about serious cyber security breaches affecting UK financial institutions and their customers have emphasized the scale of the threat. Yet it is estimated only 1 in 5 firms communicate effectively with executive management about cyber-attacks, weak cyber-security features repeatedly in FCA disciplinary cases and Boards continue to devote insufficient time and resources to this critical issue.

The FCA rules, guidance and ‘standards’ for cyber-security are still vague and principles-based, despite the increasing sophistication, volume and variety of cyber-attacks affecting regulated firms. Adding to the challenge are the different standards and requirements in the US and Europe, which need to be navigated by firms whose activities are conducted cross-border.

This practical course is designed primarily for Compliance, Risk and Legal professionals in small to medium sized regulated firms who number cyber-security among their responsibilities. It will also be of value to IT specialists who are new to cyber-security in a FCA regulated environment. It will help you keep up to date with developing best practice and the evolving rules, guidance and standards in this fast changing and increasingly important area of business and regulatory risk.

Specifically, attending will help you:

  • Review the impact of regulatory developments and priorities concerning cyber-security, with a particular emphasis on what can be learned from market leading developments in Israel and the USA
  • Update and refresh your knowledge of the current threat landscape and regulatory requirements
  • Review the appropriateness of your governance arrangements for managing cyber-security risk
  • Understand the effectiveness of a well-constructed risk assessment
  • Audit the effectiveness of your cyber-security controls
  • Understand how meeting the requirements will affect your business and client interactions
  • Consider how you can evidence the effectiveness of your cyber-security arrangements

Training Approach

This course will make use of structured presentations, CASE STUDIES and SYNDICATE EXERCISES to explore and illustrate regulatory expectations and developing best practice in cyber-security for financial services organisations.

Course Agenda

Topics covered may include but are not limited to:

  • The scale of the threat
  • The UK regulatory background and requirements
  • Cyber-security best practice
  • Risk Assessment and Controls
  • Cyber-security governance
  • Incident response
  • Compliance oversight and internal audit



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