The Committee on Payment and Settlement Systems (CPSS) and the International Organization of Securities Commissions (IOSCO) have published a consultation report on the assessment methodology for the oversight expectations applicable to critical service providers. The consultation paper contains:
- an assessment methodology;
- guidance for regulators, supervisors and overseers in assessing a financial market infrastructure’s (FMI) critical service providers against the five oversight expectations that are set out in Annex F of the CPSS-IOSCO Principles for FMIs (PFMIs), that were published in April 2012;
- advice on cooperation among authorities; and
- guidance to critical service providers in complying with the oversight expectations.
The consultation report also covers questions on the following topics:
- risk identification and management;
- information security;
- reliability and resilience;
- technology planning; and
- communication with users.
Comments on the key questions in the assessment methodology are invited by 20 February 2014.