CISO Guidance

1. Is this information credible?

• The information is credible, as it pertains to widely reported regulatory changes affecting major financial institutions.

2. How could this be relevant to my org’s assets, vendors, or processes?

• Increased lending capacity may lead to greater financial activity, impacting financial services, fintech, and related technology vendors.
• Organizations in the financial sector should assess how increased lending might affect their risk exposure and operational strategies.

3. What’s the actual technical risk?

• Technical risks may arise from increased transaction volumes and the need for robust systems to handle higher data throughput securely.
• Potential for increased cyber threats targeting financial data and transactions as activity rises.

4. What do we need to do to defend/detect/respond?

• Enhance monitoring and security measures to manage increased data and transaction volumes securely.
• Review and strengthen cybersecurity frameworks to handle potential increases in cyber threats.
• Ensure compliance with all relevant financial regulations and data protection laws amidst regulatory changes.

5. What’s the potential business/regulatory exposure?

• Potential exposure includes compliance risks due to rapid regulatory changes and increased scrutiny on financial practices.
• Operational risks from managing increased lending activities and associated data security challenges.

6. Does it reveal a bigger trend?

• Yes, it indicates a trend towards deregulation in the financial sector, which may lead to increased economic activity and associated risks.
• Highlights the ongoing need for robust cybersecurity measures in a rapidly evolving financial landscape.

7. What actions or communications are needed now?

• Communicate with financial and risk management teams to understand the implications of deregulation on business operations.
• Engage with regulatory bodies to ensure compliance with new regulations and standards.
• Update stakeholders on potential impacts and the organization's readiness to manage increased financial activities securely.