“While the significant benefits of information technology are well recognised, greater dependency by capital market participants on information technology and Internet connectivity has given rise to increased cyber security risk. This in turn raises concerns regarding the protection and preservation of the confidentiality, integrity and availability of information systems,” the regulator said in a statement.
The SC said it viewed sound management of cyber security risk as a key priority to further strengthen the resilience of the Malaysian capital markets.
“This includes setting the direction for effective management of risks by the company’s board of directors and establishing internal cyber security policies and procedures,” it said.
The consultation paper in relation to the proposed regulatory framework is available on the SC’s website. Interested parties and the public are welcome to submit their comments and feedback to the address or email email@example.com.