Legal Update: Cyber & Information Technology – September 2016 (Hebrew)

On August 31, 2016, the Commissioner of Capital Markets, Insurance and Savings in the Ministry of Finance published guidelines on the issue of cyber-risk management for institutional entities (hereinafter: “Cyber-Risk Management Guidelines”). The Cyber-Risk Management Guidelines replaces the previous guidelines from 2006 and adds material in the following principal areas: (A) corporate governance and the and the responsibility of various office holders in the organization for information security; (B) review for adopting new international standards; (C) specific requirements for managing risk and the protection of information systems and (D) the adoption of an information security policy at the organization. The Cyber-Risk Management Guidelines will come into force on April 2, 2017.

Please find the full legal update here (Hebrew)