Summary of document history
On 17 October 2024 the FSB published the Format for Incident Reporting Exchange (FIRE): Consultation report, inviting feedback on its proposed framework. During the two-month consultation period that followed, the FSB received 16 responses from stakeholders across the banking, insurance, asset management and financial market infrastructure sectors.
The consultation highlighted broad support for the objectives of FIRE, particularly its role in fostering convergence and flexibility in incident reporting frameworks. Respondents commended the FSB’s inclusive approach, of public-private sector partnership collaboration in strengthening cyber and operational resilience.
In response to the feedback, the FSB made several refinements to the final report to enhance clarity and address key concerns. These include changes to address feedback on potential challenges related to confidentiality and legal liability, as well as further guidance to promote consistent implementation across jurisdictions, and adjustments to the information items, which resulted in a net reduction in their number to streamline reporting and improve usability.
