As the primary financial services regulator of the Cayman Islands, the Cayman Islands Monetary Authority (CIMA) is responsible for managing and protecting the assets of all Cayman Islands banks, which includes its cybersecurity and risk management strategies. CIMA does this mainly through the Rule and Statement of Guidance – Cybersecurity for Regulated Entities, which establishes regulatory laws and guidelines to safeguard the security posture of its regulated entities.

‘EU Dora’ is the answer from the European Commission to the rising tide of cyber risks facing financial institutions with resilient ICTs. It introduces mandatory measures for organisations to strengthen their digital operational resilience.

The online platform industry is growing exponentially as more organizations and individuals turn to digital resources for everyday needs. In 2022, the European Union introduced the Digital Markets Act (DMA), a groundbreaking piece of legislation to curb monopolistic practices of major online platforms while promoting fair competition across the highly saturated European market.

Is your business unknowingly at risk? The stakes are high when it comes to how businesses handle personal data. A staggering 90% of people have made it clear: they won’t support companies who don’t prioritize data privacy and protection. This is no small concern – tech giants like Facebook and Google have fueled a global debate on privacy, often finding themselves in legal trouble after mishandling user data.

‍ ‍No organization, no matter the industry, is exempt from suffering from a cyber attack. The European Union formally recognized this modern-day reality in late 2022 when it published Directive (EU) 2016/1148, more commonly known as the NIS 2 Directive. As an updated version of the original directive enacted in 2016, this newer, sweeping cybersecurity regulation expanded its original scope to encompass even more business sectors.

The Public Governance, Performance and Accountability Act 2013 is a key piece of legislation that establishes a framework of governance, performance, and accountability for Australian government and Commonwealth organizations. The PGPA Act’s main goal is to ensure that all government bodies practice effective management of public resources and are transparent in their activities.

The General Data Protection Regulation (GDPR) is a comprehensive data protection law covering the European Union (EU) and is widely regarded as one of the world’s strictest privacy regulations. The GDPR unifies data regulation within the EU and provides individuals control over their personal data. The GDPR includes information about Data Protection Officers (DPOs).

As organizations and businesses undergo digital transformations, so do criminals and other nefarious actors. In today’s modern era, criminal activity frequently occurs online through digital communication channels, providing avenues for phishing, data loss, and security breaches.

Privacy is the individual’s right to control the use of their personal data, and DSAR is the mechanism by which individuals can enforce this right. This right to their own information, as used by an organization, is guaranteed by privacy laws like Europe’s General Data Protection Regulation (GDPR) and the California Consumer Protection Act (CCPA). If your organization collects and uses personal data, especially for European or Californian customers, you should be prepared to respond to DSARs.

The Digital Operations Resilience Act (DORA) is an EU regulation that comes into force in January 2025, but it also impacts UK companies. DORA’s remit will likely cover any UK financial firm that works with EU customers or does business with EU financial firms.