- Who is affected
- Directors and management of SGX-listed issuers, and their sponsors and advisers.
Summary
Cyber Risk, Cyber Resilience, Cybersecurity? Arising from the COVID-19 pandemic, companies are forced to accelerate digitalization of operations, such as adapting to Emeetings, novating into E-commerce and remote working or colloquially termed WFH (Working From Home).
As digitalization advances, so does cybercrimes. Technology in one way or another is vital in our professional and personal lives. However, many of us including companies might be lacking in the department of being "cyber-safe". Based on a survey from the Global Cybersecurity Outlook 2022 report published by the World Economic Forum, 2 out of 5 organisations surveyed had been affected by a 3rd party cyber incident and more shockingly, 6% surveyed were not even aware if they were victims of a cyberattack. On 31 Oct 2022, Singapore Exchange Regulation (“SGX RegCo”) published a Cyber Incident Response Guide ("Guide"), which sets out considerations and good practices that companies can adopt in preparing and operationalising their own Cyber Incident Response Plan which we will discuss below.
This update is a summary of publicly available regulatory guidance prepared by SAC Capital Private Limited for general information. It is not legal advice. Issuers should refer to the SGX Listing Rules and consult their sponsor or legal adviser.