EC and the European Agency for Cybersecurity (ENISA) announced establishment of the Stakeholders Cybersecurity Certification Group (SCCG), which held its first meeting on June 24, 2020. The aim of the Group is to create market-driven certification schemes and help reduce fragmentation among existing schemes in the EU member states. The European cybersecurity certification framework enables creation of tailored and risk-based EU certification schemes. The certification will provide European companies with the necessary tools to demonstrate that their products and services have state-of-the-art cybersecurity features.
The Group was established under the Cybersecurity Act of 2019 to advise EC and ENISA on strategic issues regarding cybersecurity certification and to assist EC in the preparation of the EU rolling work program. The Group consists of representatives from an array of organizations that include academic institutions, consumer organizations, conformity assessment bodies, standard developing organizations, companies, trade associations and many others. EU is working in building the necessary cybersecurity capabilities to prevent and counter the ever-changing cyber threats and attacks. In line with the Cybersecurity Act, EC and ENISA will co-chair the meetings of the Stakeholder Cybersecurity Certification Group. ENISA will also provide the secretariat of the Group. In principle, the Group should meet three times per year.
- Overview of Stakeholder Cybersecurity Certification Group
- Overview of Cybersecurity Certification Framework
Keywords: Europe, EU, Banking, Securities, Insurance, Cybersecurity Act, Cybersecurity Certification, Cyber Risk, ENISA, EC
APRA updated the lists of the Direct to APRA (D2A) validation and derivation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
EC adopted a package that includes the digital finance and retail payments strategies and the legislative proposals for regulatory frameworks on crypto-assets and digital operational resilience.
ECB published an opinion (CON/2020/22) on proposals for regulations amending the securitization framework of EU, in response to the COVID-19 pandemic.
FCA is consulting on its approach to the authorization and supervision of international firms operating in UK.
MAS published amendments to Notice 637 on the risk-based capital adequacy requirements for reporting banks incorporated in Singapore.
FCA announced that it will move firms to RegData from Gabriel in the coming months in stages, based on the reporting requirements of firms.
ISDA issued a letter to regulators to flag that it now expects the supplement to the 2006 ISDA Definitions and the Interbank Offered Rate (IBOR) Fallbacks Protocol to be effective around mid- to late-January 2021.
APRA has concluded its review of the comprehensive plans of authorized deposit-taking institutions for the assessment and management of loans with repayment deferrals.
ESAs (EBA, EIOPA, and ESMA) published the first joint report that assesses risks in the financial sector since the outbreak of the COVID-19 pandemic.
BoE and HM Treasury confirmed that the COVID Corporate Financing Facility (CCFF) will close for new purchases of commercial paper, with effect from March 23, 2021.