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

    UK Authorities Consult on Implementation of Basel 3.1 Standards

    The UK authorities have published consultations with respect to the Basel requirements for banks. The Prudential Regulation Authority (PRA) published the consultation paper CP16/22 on rules for the implementation of Basel 3.1 standards.

    November 30, 2022 WebPage Regulatory News

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News

    FSB and NGFS Publish Initial Findings from Climate Scenario Analyses

    The Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS) published a joint report that outlines the initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related financial risks.

    November 15, 2022 WebPage Regulatory News

    FSB Issues Reports on NBFI and Liquidity in Government Bonds

    The Financial Stability Board (FSB) published a letter intended for the G20 leaders, highlighting the work that it will undertake under the Indian G20 Presidency in 2023 to strengthen resilience of the financial system.

    November 14, 2022 WebPage Regulatory News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News

    EU Finalizes Rules Under Crowdfunding Service Providers Regulation

    The European Union has finalized and published, in the Official Journal of the European Union, a set of 13 Delegated and Implementing Regulations applicable to the European crowdfunding service providers.

    November 08, 2022 WebPage Regulatory News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8597