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BOE Seeks Standard Cyberattack Reporting Process For CCPs

Law360, London (February 9, 2018, 5:36 PM GMT) -- The Bank of England announced plans on Friday to formalize the way that central counterparties notify it of incidents that could harm their information technology systems, such as cyberattacks and vulnerability in data security.

The central bank's reporting proposals are intended to support the U.K. government as it implements new European rules — the Network and Information Systems Directive — which are intended to harmonize cybersecurity across the bloc when it enters into force in May.

The directive is intended to increase the obligations facing firms on data...
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