EC launched a consultation to revise the network and information systems (NIS) Directive (2016/1148), which was adopted in July 2016 and is the first horizontal internal market instrument aimed at improving the resilience of the EU against cybersecurity risks. The consultation, which closes on October 02 2020, aims to collect views on the implementation and impact of potential future changes in this regime. The results of this consultation will be used for the evaluation and impact assessment of the NIS Directive.
The NIS Directive obliges companies that provide essential services in vital sectors, such as banking, financial market infrastructures, digital infrastructure, and digital services, including search engines, cloud computing services, and online marketplaces, to protect their information technology systems and report major cybersecurity incidents to the national authorities. Article 23 of the Directive requires EC to review the functioning of this Directive periodically. As part of the key policy objective to make “Europe fit for the digital age” as well as in line with the objectives of the Security Union, EC announced in its 2020 work program that it would conduct a review on this by the end of 2020. As part of this process, this consultation seek views on the topic of cybersecurity as well as on the different elements of the NIS Directive, which are all subject to the review.
This consultation is open to citizens, public and private organizations, trade associations, and academics. The consultation includes a questionnaire that is divided in following three sections:
- Section 1 contains general questions on the NIS Directive that are accessible to all categories of stakeholders.
- Section 2 contains technical questions on the functioning of the NIS Directive. This section is mainly targeted at individuals, organizations, or authorities that are familiar with the NIS Directive and cybersecurity policies.
- Section 3 aims to gather views on approaches to cybersecurity in the European context currently not addressed by the NIS Directive. This section is mainly targeted at individuals, organizations, or authorities that are familiar with the NIS Directive and cybersecurity policies.
Comment Due Date: October 02, 2020
Keywords: Europe, EU, Banking, Securities, Insurance, NIS Directive, Questionnaire, Cyber Resilience, Cyber Risk, Directive 2016/1148, EC
Previous ArticleGLEIF Publishes Annual Report in ESEF Format, Shows Benefits of LEI
The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.
The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.
The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.
The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.
The European Council published a draft Commission Delegated Regulation to amend the regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.
The European Securities and Markets Authority (ESMA) published a paper that examines the systemic risk posed by increasing use of cloud services, along with the potential policy options to mitigate this risk.
The Monetary Authority of Singapore (MAS) published amendments to Notice 635, which sets out requirements that a bank in Singapore has to comply with when granting an unsecured non-card credit facility to individuals.
The European Commission (EC) published a public consultation on the review of revised payment services directive (PSD2) and open finance.