Ireland Warns Asset Managers Over Poor Cyber Practices

Law360, London (March 11, 2020, 2:55 PM GMT) -- Ireland’s Central Bank has warned asset managers that some of their cybersecurity practices are inadequate and have not been improved in the last three years despite rising risks.

The central bank published the findings of its so-called Thematic Inspection into the cybersecurity risk management practices in asset management firms. The review, which included on-site inspections of asset managers, found that some firms have made good progress but others are falling short of the bank's expectations.

“We are of the view that cybersecurity is a practice that remains underdeveloped in the asset management industry,” Michael Hodson, director of asset management and investment...

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