BoE Publishes Reporting Schedule for Statistical Returns in 2022

The UK government published the Statutory Instrument No. 1461, which implements Amendment of the Commission Implementing Regulation (EU) 2018/151 via The Network and Information Systems (EU Exit) (Amendment) Regulations 2021. The Instrument comes into force on January 12, 2022. The rules remove certain criteria for managing and reporting cyber risks that apply to digital service providers where those criteria are no longer appropriate now that the United Kingdom has left the European Union. The rules lay out rules on further specification of the elements to be considered by digital service providers for managing the risks posed to the security of network and information systems and of the parameters for determining whether an incident has a substantial impact. In addition, the Bank of England (BoE) published the Statistical Notice 2021/16 with the updated reporting schedule for statistical returns in 2022.