Global Trustee and Fiduciary Services Bite-Sized Issue 9 2023

CYBER CISA Releases its Cybersecurity Strategic Plan On 4 August 2023, the U.S. Cybersecurity & Infrastructure Security Agency (CISA) released a strategic plan to lay out how it will fulfil its cybersecurity mission over the next three years. The CISA Cybersecurity Strategic Plan aligns the following nine objectives to specific enabling measures and measures of effectiveness to drive accountability: • Increase visibility into, and ability to disrupt, cybersecurity threats and campaigns; • Coordinate disclosure of, hunt for, and drive mitigation of critical and exploitable vulnerabilities; • Plan for, exercise, and execute joint cyber defence operations and coordinate the response to significant cybersecurity incidents; • Understand how attacks really occur – and how to stop them; • Drive implementation of measurably effective cybersecurity investments; • Provide cybersecurity capabilities and services that fill gaps and help measure progress; • Drive development of trustworthy technology products; • Understand and reduce cybersecurity risks posed by emergent technologies; and • Contribute to efforts to build a national cyber workforce. Link to CISA Cybersecurity Strategic Plan here FINTECH New Roadmap to Promote Fintech Adoption in Financial Services Sector On 25 August 2023, the Hong Kong Monetary Authority (HKMA), the Securities and Futures Commission ( SFC ), and the Insurance Authority ( IA ) jointly published a new Fintech Promotion Roadmap ( the Roadmap ). The Roadmap contains a series of initiatives to be undertaken by the three regulators over the next 12 months to give further impetus to Fintech adoption in the financial services sector. Guided by the “Fintech 2025” strategy, the HKMA has been actively promoting the all-round adoption of Fintech by banks in Hong Kong. As part of the “All banks go Fintech” initiative under the “Fintech 2025” strategy, a Tech Baseline Assessment was conducted. Published in June 2022, the assessment results indicated substantial potential for further developments in the Fintech areas of Wealthtech (including asset management), Insurtech and Greentech as well as the technology types of Artificial Intelligence and Distributed Ledger Technology. Securities Services CONTENTS Bite-Sized Global Trustee and Fiduciary Services Issue 9 | 2023 CYBER FINTECH MONEY MARKET FUNDS SUSTAINABLE FINANCE/ ESG AUSTRALIA ASIA EUROPE NORTH AMERICA UNITED KINGDOM