Page 32 - CAPE Financial Services Syllabus Macmillan_Neat

UNIT 1
MODULE 3: GOVERNANCE, REGULATIONS AND ETHICS (cont’d)
SPECIFIC OBJECTIVES
Students should be able to:
6. explain steps necessary to maintain
cyber security;
7. explain why regulation is important
in financial services;
8. explain the role of regulatory
bodies/ agencies;
CXC A38/U2/16
CONTENT
(a) Identification of cyber security
threats, vulnerabilities and risk.
(b) Identification of protection from risks.
(c) Detecting and monitoring.
(d) Responding to cyber-attack.
(e) Recovery from data breach.
The need for regulation:
(a) protect consumers;
(b) enhance integrity;
(c) help to maintain competitive markets;
and,
(d) promote effective competition in the
interests of consumers.
(a) Identify the regulatory bodies or
agencies such as the International
Monetary Fund (IMF), International
Organization of Securities Commission
(IOSCO), Organization for Economic
Cooperation and Development
(OECD), Financial Action Task Force
(FATF) and the Caribbean Financial
Action Task Force (CFATF).
(b) Role of regulatory bodies or agencies
in financial systems regulation.
For example:
(i) The International Monetary
Fund (IMF) helps with the
promulgation and monitoring of
policies and procedures to
counter money laundering and
cybercrime.
27