Risk management framework

Preamble (Recitals 1 – 30)

Recitals

Title I (Article 1)

General principle

Article 1

Overall risk profile and complexity

Title II (Articles 2 – 27)

Further harmonisation of ICT risk management tools, methods, processes, and policies in accordance with Article 15 of Regulation (EU) 2022/2554

Chapter I (Articles 2 – 18)

ICT security policies, procedures, protocols, and tools

Section 1

Article 2

General elements of ICT security policies, procedures, protocols, and tools

Section 2

Article 3

ICT risk management

Section 3

ICT asset management

Article 4

ICT asset management policy

Article 5

ICT asset management procedure

Section 4

Encryption and cryptography

Article 6

Encryption and cryptographic controls

Article 7

Cryptographic key management

Section 5

ICT operations security

Article 8

Policies and procedures for ICT operations

Article 9

Capacity and performance management

Article 10

Vulnerability and patch management

Article 11

Data and system security

Article 12

Logging

Section 6

Network security

Article 13

Network security management

Article 14

Securing information in transit

Section 7

ICT project and change management

Article 15

ICT project management

Article 16

ICT systems acquisition, development, and maintenance

Article 17

ICT change management

Section 8

Article 18

Physical and environmental security

Chapter II (Articles 19 – 21)

Human resources policy and access control

Article 19

Human resources policy

Article 20

Identity management

Article 21

Access control

Chapter III (Articles 22 – 23)

ICT-related incident detection and response

Article 22

ICT-related incident management policy

Article 23

Anomalous activities detection and criteria for ICT-related incidents detection and response

Chapter IV (Articles 24 – 26)

ICT business continuity management

Article 24

Components of the ICT business continuity policy

Article 25

Testing of the ICT business continuity plans

Article 26

ICT response and recovery plans

Chapter V (Article 27)

Report on the ICT risk management framework review

Article 27

Format and content of the report on the review of the ICT risk management framework

Title III (Articles 28 – 41)

Simplified ICT risk management framework for financial entities referred to in Article 16(1) of Regulation (EU) 2022/2554

Chapter I (Articles 28 – 32)

Simplified ICT risk management framework

Article 28

Governance and organisation

Article 29

Information security policy and measures

Article 30

Classification of information assets and ICT assets

Article 31

ICT risk management

Article 32

Physical and environmental security

Chapter II (Articles 33 – 38)

Further elements of systems, protocols, and tools to minimise the impact of ICT risk

Article 33

Access Control

Article 34

ICT operations security

Article 35

Data, system and network security

Article 36

ICT security testing

Article 37

ICT systems acquisition, development, and maintenance

Article 38

ICT project and change management

Chapter III (Articles 39 – 40)

ICT business continuity management

Article 39

Components of the ICT business continuity plan

Article 40

Testing of business continuity plans

Chapter IV (Article 41)

Report on the review of the simplified ICT risk management framework

Article 41

Format and content of the report on the review of the simplified ICT risk management framework

Title IV (Article 42)

Final provisions

Article 42

Entry into force

Article 10 Vulnerability and patch management

  1. As part of the ICT security policies, procedures, protocols, and tools referred to in Article 9(2) of Regulation (EU) 2022/2554, financial entitiesas defined in Article 2, points (a) to (t) shall develop, document, and implement vulnerabilitya weakness, susceptibility or flaw of an asset, system, process or control that can be exploited management procedures.

  2. The vulnerabilitya weakness, susceptibility or flaw of an asset, system, process or control that can be exploited management procedures referred to in paragraph 1 shall:

    1. identify and update relevant and trustworthy information resources to build and maintain awareness about vulnerabilitiesa weakness, susceptibility or flaw of an asset, system, process or control that can be exploited;

    2. ensure the performance of automated vulnerabilitya weakness, susceptibility or flaw of an asset, system, process or control that can be exploited scanning and assessments on ICT assetsa software or hardware asset in the network and information systems used by the financial entity, whereby the frequency and scope of those activities shall be commensurate to the classification established in accordance with Article 8(1) of Regulation (EU) 2022/2554 and the overall risk profile of the ICT asseta software or hardware asset in the network and information systems used by the financial entity;

    3. verify whether:

      1. ICT third-party service providersan undertaking providing ICT services handle vulnerabilitiesa weakness, susceptibility or flaw of an asset, system, process or control that can be exploited related to the ICT servicesdigital and data services provided through ICT systems to one or more internal or external users on an ongoing basis, including hardware as a service and hardware services which includes the provision of technical support via software or firmware updates by the hardware provider, excluding traditional analogue telephone services provided to the financial entity;

      2. whether those service providers report to the financial entity at least the critical vulnerabilitiesa weakness, susceptibility or flaw of an asset, system, process or control that can be exploited and statistics and trends in a timely manner;

    4. track the usage of:

      1. third-party libraries, including open-source libraries, used by ICT servicesdigital and data services provided through ICT systems to one or more internal or external users on an ongoing basis, including hardware as a service and hardware services which includes the provision of technical support via software or firmware updates by the hardware provider, excluding traditional analogue telephone services supporting critical or important functionsa function the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law;

      2. ICT servicesdigital and data services provided through ICT systems to one or more internal or external users on an ongoing basis, including hardware as a service and hardware services which includes the provision of technical support via software or firmware updates by the hardware provider, excluding traditional analogue telephone services developed by the financial entity itself or specifically customised or developed for the financial entity by an ICT third-party service provideran undertaking providing ICT services;

    5. establish procedures for the responsible disclosure of vulnerabilitiesa weakness, susceptibility or flaw of an asset, system, process or control that can be exploited to clients, counterparties, and to the public;

    6. prioritise the deployment of patches and other mitigation measures to address the vulnerabilitiesa weakness, susceptibility or flaw of an asset, system, process or control that can be exploited identified;

    7. monitor and verify the remediation of vulnerabilitiesa weakness, susceptibility or flaw of an asset, system, process or control that can be exploited;

    8. require the recording of any detected vulnerabilitiesa weakness, susceptibility or flaw of an asset, system, process or control that can be exploited affecting ICT systems and the monitoring of their resolution.

    For the purposes of point (b), financial entitiesas defined in Article 2, points (a) to (t) shall perform the automated vulnerabilitya weakness, susceptibility or flaw of an asset, system, process or control that can be exploited scanning and assessments on ICT assetsa software or hardware asset in the network and information systems used by the financial entity for the ICT assetsa software or hardware asset in the network and information systems used by the financial entity supporting critical or important functionsa function the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law on at least a weekly basis.

    For the purposes of point (c), financial entitiesas defined in Article 2, points (a) to (t) shall request that ICT third-party service providersan undertaking providing ICT services investigate the relevant vulnerabilitiesa weakness, susceptibility or flaw of an asset, system, process or control that can be exploited, determine the root causes, and implement appropriate mitigating action.

    For the purposes of point (d), financial entitiesas defined in Article 2, points (a) to (t) shall, where appropriate in collaboration with the ICT third-party service provideran undertaking providing ICT services, monitor the version and possible updates of the third-party libraries. In case of ready to use (off-the-shelf) ICT assetsa software or hardware asset in the network and information systems used by the financial entity or components of ICT assetsa software or hardware asset in the network and information systems used by the financial entity acquired and used in the operation of ICT servicesdigital and data services provided through ICT systems to one or more internal or external users on an ongoing basis, including hardware as a service and hardware services which includes the provision of technical support via software or firmware updates by the hardware provider, excluding traditional analogue telephone services not supporting critical or important functionsa function the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law, financial entitiesas defined in Article 2, points (a) to (t) shall track the usage to the extent possible of third-party libraries, including open-source libraries.

    For the purposes of point (f), financial entitiesas defined in Article 2, points (a) to (t) shall consider the criticality of the vulnerabilitya weakness, susceptibility or flaw of an asset, system, process or control that can be exploited, the classification established in accordance with Article 8(1) of Regulation (EU) 2022/2554, and the risk profile of the ICT assetsa software or hardware asset in the network and information systems used by the financial entity affected by the identified vulnerabilitiesa weakness, susceptibility or flaw of an asset, system, process or control that can be exploited.

  3. As part of the ICT security policies, procedures, protocols, and tools referred to in Article 9(2) of Regulation (EU) 2022/2554, financial entitiesas defined in Article 2, points (a) to (t) shall develop, document and implement patch management procedures.

  4. The patch management procedures referred to in paragraph 3 shall:

    1. to the extent possible identify and evaluate available software and hardware patches and updates using automated tools;

    2. identify emergency procedures for the patching and updating of ICT assetsa software or hardware asset in the network and information systems used by the financial entity;

    3. test and deploy the software and hardware patches and the updates referred to in Article 8(2), point (b), points (v), (vi) and (vii);

    4. set deadlines for the installation of software and hardware patches and updates and escalation procedures in case those deadlines cannot be met.

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