Attention Business Continuity Reps
Calling for Participation in a Global Cybersecurity Exercise
The Investment Industry Regulatory Organization of Canada (IIROC) and the Investment Industry Association of Canada (IIAC) are requesting participation from Dealer Members and Key Service Providers in a global cybersecurity exercise hosted by the Securities Industry and Financial Markets Association (SIFMA) entitled “Quantum Dawn V”.
SIFMA conducts “Quantum Dawn” cybersecurity exercises bi-ennially to enable financial institutions and the sector, as a whole, to practice and improve coordination with key industry and government partners in order to maintain equity market operations in the event of a systemic cyber-attack.
What is the purpose of the current exercise?
The purpose of the Quantum Dawn V exercise is to simulate an “Extreme but Plausible” scenario with a significant global impact across the financial sector. The scenario will emphasize cross-jurisdiction communication & coordination between member firms, central banks and regulatory bodies in North America, Europe, and Asia.”
The objective of the exercise is to:
The exercise will help provide insights into what the roles and responsibilities of firms, central banks, regulators and industry groups are in case of a globally systemic event. SIFMA intends to build a “playbook” for all participants following the exercise.
How will my participation help me?
The exercise will give you insights into how information-sharing would take place between regulators and organizations all over the world in the event of a systemic cyber-attack and help you:
Who will be participating?
Participants will include companies and organizations from all over the world. More than 100 firms, central banks and regulatory agencies will participate across 8 jurisdictions. In Canada, several organizations are expected to participate including IIROC, the CSA, and the Bank of Canada.
Will this cost me anything?
No. The exercise is free and completely voluntary.
When will the exercise take place?
The exercise is scheduled for Thursday, November 7th, 2019 – 7-11 am EDT.
Who from my firm should participate?
Senior Crisis Management and Business Continuity Planning (BCP) representatives at your firm should participate.
How will the exercise be conducted? How much time and resources are involved?
There is no pre-meeting or work required. The time involvement will be for a few hours on the day of the exercise. You will need to be at your computer and dialed into a phone line. Participants will respond, as applicable, based on the instructions. There will be a debrief at the end of the exercise.
How do I confirm my participation?
Please fill out this form, providing the names of the key members of your BCP team by September 12, 2019, and email your response to Suzanne Lasrado and Susan Copland (contact information provided below).
I have more questions. Whom do I contact?
For more information, you may contact:
Suzanne Lasrado, Senior Manager (Acting), Financial & Operations Compliance
Phone: (416) 943-5880
Susan Copland, Managing Director
Phone: (604) 637-1677