RBNZ sees no need to impose prescriptive cyber-security rules now
Head of prudential supervision at the central bank says it is looking to market discipline to ensure high standards
The Reserve Bank of New Zealand (RBNZ) will not be introducing prescriptive cyber-security regulations at this stage, according to Toby Fiennes, head of prudential supervision.
Speaking on July 19 in Auckland, Fiennes said he “doubts” that imposing prescriptive cyber-security regulations now would “appreciably improve the outcome” when both the technology and threat landscape are changing so rapidly. However, the bank will review this policy stance from time to time to ensure it remains
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