Page 106 - SC SCAR 2023 ENGLISH Flipbook

PART 4 STRATEGIC ENGAGEMENTS WITH STAKEHOLDERS
CMCS 2023 SCENARIOS
Data Ransomware Insider Leakage Threat
The SC’s Technology Supervision Department under DSI conducts the CMCS in collaboration with the National Cyber Agencies (NACSA) and CyberSecurity Malaysia (CSM). The event on 5 October 2023 marked the sixth consecutive annual CMCS, involving 112 organisations selected based on their level of dependency on technology for day-to-day operations.
Since the release of the Guidance Note on Management of Cyber Incidents (Guidance Note) in 2022, the SC has proactively engaged capital market entities to enhance the understanding of their roles and responsibilities in the event of a cyber incident. The pursuit of enhancing the effectiveness of the capital market entities in responding to cyber attacks, the SC organised five sessions of the Capital Market tabletop Exercise (CMTTX) from 2022 to 2023. The events were designed for capital market entities not selected for the CMCS exercise and served as an avenue to familiarise these entities with the contents of the Guidance Note. The CMTTX sessions were attended by 277 participants representing 184 organisations, offering them a valuable opportunity to participate in this educational exercise.
Enhancing Risk Management
The SC continued to work with key stakeholders to remain vigilant of emerging risks and vulnerabilities that may impact the systemic stability of the domestic capital market. The SC’s involvement in the Macro Risk Focus Group (MRFG) with BNM is part of a bi- annual collaborative regulatory discussion with BNM to exchange assessments of developments pertaining to the stability of the financial and capital market.
The SC led the first MRFG meeting with BNM on 14 April 2023. The SC then hosted a meeting with BNM to further share developments from the SC’s macro stress test on funds, which was featured in the Capital Market Stability Review (CMSR) 2022. During this engagement, BNM also shared high-level details of its Climate Risk Stress Test, outlining its objectives, and scope, as well as the challenges involved.
To facilitate inter-agency co-ordination, the SC held engagements with BNM and Perbadanan Insurans Deposit Malaysia (PIDM) on resolution planning in March and June 2023. The engagements included discussions on inter-agency co-ordination such as the Strategic Alliance Agreement (SAA) between PIDM and BNM on information sharing, interventions, and risk monitoring. Given the recent banking crises in US and Europe, the engagement also discussed observations of market stabilisation measures and resolution strategies being undertaken by the relevant authorities.
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SECURITIES COMMISSION MALAYSIA ANNUAL REPORT 2023