Revised draft incorporates comments from consultation on first draft issued Dec. 2021.
Responsibility of governing body of financial institution to ensure that the financial institution meets the requirements set out in joint standard, on a continuous basis.
Joint standard addresses requirements relating to governance, cybersecurity strategy and framework, cybersecurity and cyber resilience fundamentals, cybersecurity hygiene practices, as well as notification and regulatory reporting related thereto.
Effectiveness
Comments must be submitted using template, Annexure E, by Feb. 28, 2023.
Dec. 2023 Parliamentary Submission
On Dec. 7, 2023, RSA FSCA issued communication on submission of joint standard on cybersecurity and cyber resilience requirements for financial firms, to Parliament.
Draft joint standard, supporting documents submitted to parliament on Nov. 30, 2023.
May 2024 Joint Standard Published
On May 17, 2024, RSA CB and RSA FSCA issued communication on publication of joint standard 2 of 2024 on cybersecurity cyber resilience, as well as consultation report.
Joint standard envisaged to commence on Jun. 1, 2025; joint standard will likely take effect after 12 months, authorities urge industry to prepare for its implementation.
