BCFSA issues new information security guideline for pension plan administrators, effective July 1, 2025
The BC Financial Services Authority (BCFSA) has released a new standalone Information Security Guideline (the Guideline) for BC pension plan administrators, which is set to take effect on July 1, 2025.
The Guideline addresses the BCFSA’s expectation that plan administrators will develop and document an effective information security risk management program.
The Guideline also outlines indicators that a material information security incident has occurred, and identifies the information that plan administrators are expected to report to BCFSA when a material information security incident occurs.
Prior to the Guideline’s effective date, all plan administrators are expected to follow the existing BCFSA Information Security Guideline for Provincially Regulated Financial Institutions, which was issued in 2021.
Click on ‘More Information’ below to review the new Guideline:
