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Pakistan: SECP issues cloud adoption guidelines for public consultation
The Securities and Exchange Commission of Pakistan ('SECP') issued, on 2 August 2021, draft guidelines on cloud adoption for public consultation. In particular, the draft guidelines provide procedures for business entities incorporated with the SECP in their transition towards cloud computing. To this end, the draft guidelines outline five phases of cloud adoption and additional ongoing measures. More specifically, the draft guidelines recommend that business entities establish a clear data classification framework based on sensitivity and security protection requirements. Furthermore, in the case of personally identifiable information, the draft guidelines advise business entities to only rely on cloud service providers if technical requirements are met, including, for example, data encryption and segregation.
Comments may be provided via email to [email protected] before 13 August 2021.
You can read the press release here and the draft guidelines here.
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