Cyber-resilience in FMA-regulated financial services

Aim: Provide a summary of the findings from the FMA’s thematic review of cyber-resilience in NZ financial services and provide guidance in areas where improvements are needed.

Outcome: Completion of this module will:

  • Result in a greater understanding of the nature of cyber threats faced by businesses, and

  • Help licensed businesses in the financial services industry assess their preparedness for a cyber-attack and to strengthen the business against such threats.

Abstract: To help the FMA understand the current state of cyber-resilience in the financial services industry, it conducted a survey of market participants’ current cyber-resilience and future plans. The insights developed from the survey have enabled this guidance to be produced and will help the FMA monitor cyber-resilience in the financial services industry.

The FMA’s key recommendations from the survey results, plus its expectations of licensed businesses in the financial services industry in relation to cybersecurity and cyber-resilience, are described.