How the Government’s New Cybersecurity Law Could Affect Your Operations
Canada is moving forward with a major cybersecurity overhaul. If you’re in the energy or finance sectors, it is not something you can afford to ignore.
Bill C-8, currently before Parliament, revives the national cybersecurity agenda previously introduced in Bill C-26. This legislation is expected to pass swiftly, likely by early 2026, and it comes with significant implications for businesses managing or supporting critical infrastructure.
Whether you operate a utility, manage financial services, or provide supporting software, infrastructure, or data systems, this law signals major changes to how you protect your systems, people, and partners.
What Is Bill C-8?
What Is Bill C-8?Bill C-8 introduces the Critical Cyber Systems Protection Act (CCSPA), a new law aimed at strengthening cybersecurity for Canada’s most vital industries. These include:
- Energy (electricity, pipelines, nuclear, oil and gas)
- Finance (banks, credit unions, trading systems)
- Telecommunications
- Transportation
- Water and digital infrastructure
The bill also updates the Telecommunications Act, granting the federal government new authority to remove high-risk telecom equipment and respond to digital system threats.
What Is Changing for Businesses Like Yours?
If your company is classified as a designated operator, or supports one through IT services or software, here is what you need to prepare for:
1. You will need a formal, documented cybersecurity program
The law will require businesses to implement and maintain a full cybersecurity program. This includes written policies, annual risk assessments, defined controls, and procedures that are reviewed and updated regularly.
Expera IT’s vCSO (Virtual Chief Security Officer) service helps businesses create and manage these programs with a focus on regulatory compliance.
2. You must report incidents within 72 hours
Security incidents that affect system availability, integrity, or confidentiality must be reported to authorities within three days. Having an incident response plan in place is critical.
Expera helps clients conduct tabletop exercises to prepare for real-world disaster recovery scenarios.
3. You are responsible for supplier cybersecurity
Designated operators will be required to monitor and manage risks not just in their own systems, but across their vendors and supply chains. If your partners are not secure, you could be liable.
4. Executives and board members may be held accountable
Leadership must demonstrate active cybersecurity oversight. Non-compliance could bring fines up to $15 million per day and even personal liability for executives.
Expera prepares board-ready reports and dashboards to support risk oversight and decision-making.
5. Records must be kept in Canada
Cybersecurity documentation and incident logs must be stored in-country. Organizations using international cloud platforms may need to re-evaluate data residency strategies.
Get Ready Now
Even if your business is not directly regulated under Bill C-8, your clients, insurers, or procurement teams may soon require proof of cybersecurity compliance. The time to act is now.
Expera helps organizations:
- Perform cybersecurity gap assessments aligned with CCSPA expectations
- Write and maintain policy and procedure documentation
- Conduct tabletop exercises for incident and disaster recovery plans
- Build reporting systems for board and executive visibility
- Prepare compliance workflows for incident reporting and supplier notifications
Schedule Your Cybersecurity Readiness Review
Bill C-8 is more than a government regulation. It is a signal that cybersecurity is now a core business responsibility for companies in energy, finance, and beyond.
Book a consultation with Expera IT to review your organization’s readiness. Our team supports energy producers and financial institutions across Canada with IT and cybersecurity solutions that meet evolving regulations.
Resources:
https://www.parl.ca/legisinfo/en/bill/45-1/c-8
https://www.experait.com/2025/05/29/dan-havens-of-acronis-insights/
