CSA publishes plan for dealing with market disruptions

By Staff | October 18, 2018 | Last updated on October 18, 2018
1 min read
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The CSA released its plan Thursday to deal with market disruptions—including cybersecurity incidents—outlining how the regulator expects firms and authorities to respond.

Staff Notice 11-338 CSA Market Disruption Coordination Plan describes CSA procedures along with the expected response and coordination roles of market participants in case of a disruption. The document also describes how regulated entities are expected to notify regulators and share information with the public.

Market disruptions—related to trading or clearing and settling transactions—can affect marketplaces, clearing agencies and registrants, including those beyond the traditional securities sector such as banks and pension funds, the notice says.

“Ensuring that fair, efficient and orderly markets are not compromised has guided the preparation of these procedures” said Louis Morisset, CSA chair and president and CEO of the Autorité des marchés financiers, in a release.

“We are reminding market participants of the CSA’s expectations and requirements, particularly given the increased frequency of data breaches and cybersecurity incidents and their potential to disrupt markets.”

Read the Staff Notice here.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.