Tuesday, May 1, 2018

This IIF staff paper “Addressing regulatory fragmentation to support a cyber-resilient global financial services industry” evaluates the regulatory approaches in the cyber arena that are being introduced around the world, identifies areas where regulatory fragmentation is occurring and discusses how a consistent and coordinated global regulatory landscape going forward could be designed to help both reduce the current fragmentation and avoids creating new sources of it.

The paper also advocates for the Financial Stability Board to play a predominant role in creating that regulatory landscape, which should ideally be built around a principles-based and risk-based global framework that would provide a common approach for all the cyber-related areas where public and private incentives are aligned. In the cases where incentives are not fully aligned, further regulations might be needed, but in that case, they should be developed in coherence with the framework and in accordance with leading practices that avoid creating fragmentation.

IIF Authors

Martin Boer

Martin Boer Director Regulatory Affairs IIF
Director, Regulatory Affairs

Jaime Vazquez

Policy Advisor