Featured Product

    EC Consults on Revision of Network and Information Systems Directive

    July 07, 2020

    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.

     

    Related Links

    Comment Due Date: October 02, 2020

     Keywords: Europe, EU, Banking, Securities, Insurance, NIS Directive, Questionnaire, Cyber Resilience, Cyber Risk, Directive 2016/1148, EC

    Related Articles
    News

    EBA Analyzes Impact of Unwind Mechanism of Liquidity Coverage Ratio

    EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.

    November 19, 2020 WebPage Regulatory News
    News

    ECB Outlines Views on Possible Changes to AnaCredit Rule and TLTROs

    In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.

    November 19, 2020 WebPage Regulatory News
    News

    IASB Begins First Phase of Post-Implementation Review of IFRS 9

    IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.

    November 18, 2020 WebPage Regulatory News
    News

    FSB Report Examines Progress in Resolvability of Systemic Institutions

    FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.

    November 18, 2020 WebPage Regulatory News
    News

    EBA Benchmarks National Insolvency Frameworks Across EU

    EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.

    November 18, 2020 WebPage Regulatory News
    News

    FSB Reports Assess Impact of Pandemic on Financial Stability

    FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.

    November 17, 2020 WebPage Regulatory News
    News

    RBNZ Consults on Implementation of Capital Review Changes

    RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.

    November 17, 2020 WebPage Regulatory News
    News

    IASB Announces Andreas Barckow as the New Chair from July 2021

    The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.

    November 17, 2020 WebPage Regulatory News
    News

    HKMA Consults on Capital Rules for Bank Equity Investments in Funds

    HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.

    November 17, 2020 WebPage Regulatory News
    News

    ESRB Supports Extension of Macro-Prudential Measure by Swedish FSA

    ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).

    November 17, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6153