Home / Financial Services/ Citigroup, Zurich Insurance consortium to develop cyber security norms

Citigroup, Zurich Insurance consortium to develop cyber security norms


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 7 March 2018 00:00


Reuters: A consortium led by Citigroup Inc, Zurich Insurance Group AG and Depository Trust & Clearing Corp (DTCC) will develop a set of cyber security standards that fintech companies can sign up to, the Financial Times reported on Tuesday.

The group was formed as a result of a meeting held by the World Economic Forum last year to promote cooperation between the public and private sectors, the FT said.

Founding members of the grouping, which include Hewlett Packard Enterprise Co and U.S.-based online lender Kabbage, and participants say they aim to produce a set of standards within the next six to 12 months, according to FT.

Citi, Zurich Insurance and DTCC were not immediately available for comment outside regular business hours.

Last month, the US Securities and Exchange Commission called for “clearer” cyber risk disclosure and asked companies to adopt specific policies restricting executive trading in shares while a hack was being investigated.


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

A brief guide to the legal system of China

Thursday, 21 June 2018

The law of the People’s Republic of China (PRC) is officially referred to as the “socialist legal system with Chinese characteristics”. The formation and development of the socialist legal system with Chinese characteristics are compatible with


The evolution of CSR towards Creating Integrated Value

Thursday, 21 June 2018

Creating Integrated Value (CIV), a term that I coined in 2014, is a concept and practice that has emerged from a long tradition of exploring the role of business in society. It has roots in what many today call corporate (social) responsibility or CS


Let’s educate ourselves for change!

Thursday, 21 June 2018

Ordinary Level Examinations are over. Results are in. What should I be doing at Advanced Level? Science, Commerce or Arts? And what subject combinations? This always is a burning question for some and also for parents. This question is usually answe


Waluka teledrama and Yahapalana political drama

Thursday, 21 June 2018

There are several Sinhala teledramas telecast these days with passing political or social messages both constructive and humorous. The ongoing ‘Ape Ardare’ (Our Love) and ‘Sanda Eliya’ (Moonlight) may stand out, exposing the dubious nature of


Columnists More