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

    PRA Consults on Implementation of Certain Provisions of CRD5

    PRA, via the consultation paper CP12/20, proposed changes to its rules, supervisory statements, and statements of policy to implement certain elements of the Capital Requirements Directive (CRD5).

    July 31, 2020 WebPage Regulatory News
    News

    EIOPA Report Identifies Key Financial Stability Risks for Insurers

    EIOPA published the financial stability report that provides detailed quantitative and qualitative assessment of the key risks identified for the insurance and occupational pensions sectors in the European Economic Area.

    July 30, 2020 WebPage Regulatory News
    News

    EBA Publishes Risk Dashboard for First Quarter of 2020

    EBA published its risk dashboard for the first quarter of 2020 together with the results of the risk assessment questionnaire.

    July 30, 2020 WebPage Regulatory News
    News

    EBA Issues Updates on Stress Test Exercise for Banks in EU

    EBA announced that the next stress testing exercise is expected to be launched at the end of January 2021 and its results are to be published at the end of July 2021.

    July 30, 2020 WebPage Regulatory News
    News

    PRA Proposes Guidance Related to Matching Adjustment under Solvency II

    PRA published the consultation paper CP11/20 that sets out its expectations and guidance related to auditors’ work on the matching adjustment under Solvency II.

    July 30, 2020 WebPage Regulatory News
    News

    MAS Issues Guidance on Dividend Distributions by Banks

    MAS published a statement guidance on dividend distribution by banks.

    July 30, 2020 WebPage Regulatory News
    News

    APRA Updates Guidance on Capital Management for Banks

    APRA updated its capital management guidance for banks, particularly easing restrictions around paying dividends as institutions continue to manage the disruption caused by COVID-19 pandemic.

    July 29, 2020 WebPage Regulatory News
    News

    FSB Report Reviews Macro-Prudential Framework and Tools in Germany

    FSB published a report that reviews the progress on data collection for macro-prudential analysis and the availability and use of macro-prudential tools in Germany.

    July 29, 2020 WebPage Regulatory News
    News

    EBA Urges Firms to Finalize Preparations for End of Brexit Transition

    EBA issued a statement reminding financial institutions that the transition period between EU and UK will expire on December 31, 2020; this will end the possibility for the UK-based financial institutions to offer financial services to EU customers on a cross-border basis via passporting.

    July 29, 2020 WebPage Regulatory News
    News

    SRB on Operational Continuity in Resolution and FMI Contingency Plans

    SRB published guidance on operational continuity in resolution and financial market infrastructure (FMI) contingency plans.

    July 29, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5606