Operational resilience
The asset management industry is heavily reliant on information and communication technology (ICT). This trend is only set to intensify, on the back of fresh digital-technology challenges, including improvement of data availability, digitalization of assets, new processes in custody and settlement.
Against this backdrop, EFAMA has become increasingly more active on the topics of operational resilience and cybersecurity, supporting the European Commission’s intent to develop a harmonised framework for ICT risks and operational resilience. Principles and risk-based requirements should enable firms to implement controls that are future-proof, flexible, proportionate, and commensurate to the risks. On this basis, EFAMA is engaging with policy makers negotiating the Digital Operational Resilience Act (DORA) and contributing to cyber-prevention also jointly with other trade associations.
EFAMA response to the Consultation Paper on draft regulatory technical standards on thread-led penetration testing (TLPT)
EFAMA response to the Consultation Paper on draft regulatory technical standards on subcontracting of ICT services supporting critical or important functions
EFAMA response to the Consultation Paper on draft regulatory technical standards and implementing technical standards on content, timelines and templates on incident reporting
EFAMA launches Cyber Resilience Working Group
Updated Cyber Security Program Basics for investment management companies
Open-ended funds and resilient capital markets - the perspective of the European asset management industry
For the best part of this decade, macro-prudential supervisors have argued that investment funds contribute to the build-up of systemic risks. Today, EFAMA has published an ambitious report that provides a comprehensive overview of the contribution of the European investment fund sector to the diversity and resilience of capital markets.
Some key findings include:
