Canada's banking regulator recently updated its Technology and Cyber Security Incident Reporting requirements for financial institutions to disclose and report cybersecurity incidents. And, for the first time since 2013, it updated its Cyber Security Self-Assessment tool.
Data breaches costed companies $4.24 million per incident on average–the highest cost in the 17-year history of the report. It turns out that security incidents became more costly (10 percent more than last year) and more difficult to contain due to drastic operational shifts during the pandemic.
Here is a reminder we just received from Corporations Canada relating to AGMs in 2021 for CNCA corporations and that they can be done virtually, partially virtually or by unanimous resolution in many cases.