Consultations on Information Security Guideline and Outsourcing Guideline

BC Financial Services Authority (“BCFSA”) classifies information security and outsourcing (also known as third-party risk) as key risks currently facing regulated entities and stakeholders. To that end, the organization developed two Guidelines on information security and outsourcing that set out its expectations for mitigating those risks. A 60-day consultation process that included meeting with various stakeholder organizations and sector representatives followed the release of the draft Guidelines. For more details, read our Advisory.