The Canadian Investment Regulatory Organization (Ciro) announced it shut down some systems last week after identifying a “cybersecurity threat.”
The securities watchdog proactively took this step after discovering the threat on August 11. Critical functions remained available, and real-time equity market surveillance operations continued as normal. However, some personal information of member firms and their registered employees may have been compromised in the breach.
“Given the high standard of security that Ciro expects of both itself and its members, we are deeply concerned about this, and we know our members will be too,” stated Ciro. An investigation is ongoing, and the regulator is collaborating with external cybersecurity and legal experts, as well as law enforcement.