In an increasingly interconnected world, cybersecurity incidents may affect multiple financial institutions, jurisdictions and economies. “Since major cyber incidents increasingly have a global character, effective cyber incident response and recovery are ever-more dependent on collective efforts,” posited the G7 Cyber Expert Group in a paper (G7 Report) discussing fundamental elements of collective cyber incident response and recovery (CCIRR). Aligning CCIRR approaches globally will enable more effective responses to widespread cyber incidents. The G7 Report is organized around the three fundamental pillars of establishing, using and maintaining/testing a CCIRR arrangement. Each pillar, in turn, includes several elements. This article parses the G7 Report, which contains valuable information for fund managers interested in establishing CCIRR arrangements. See “CFTC Commissioner Urges Tougher Diligence and Closer Cooperation to Thwart Cyber Threats” (Sep. 11, 2025).