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 13 Network security management

Financial entitiesas defined in Article 2, points (a) to (t) shall, as part of the safeguards ensuring the security of networks against intrusions and data misuse, develop, document, and implement policies, procedures, protocols, and tools on network security management, including all of the following:

  1. the segregation and segmentation of ICT systems and networks taking into account:

    1. the criticality or importance of the function those ICT systems and networks support;

    2. the classification established in accordance with Article 8(1) of Regulation (EU) 2022/2554;

    3. the overall risk profile of ICT assetsa software or hardware asset in the network and information systems used by the financial entity using those ICT systems and networks;

  2. the documentation of all of the financial entity’s network connections and data flows;

  3. the use of a separate and dedicated network for the administration of ICT assetsa software or hardware asset in the network and information systems used by the financial entity;

  4. the identification and implementation of network access controls to prevent and detect connections to the financial entity’s network by any unauthorised device or system, or any endpoint not meeting the financial entity’s security requirements;

  5. the encryption of network connections passing over corporate networks, public networks, domestic networks, third-party networks, and wireless networks, for communication protocols used, taking into account the results of the approved data classification, the results of the ICT riskany reasonably identifiable circumstance in relation to the use of network and information systems which, if materialised, may compromise the security of the network and information systems, of any technology dependent tool or process, of operations and processes, or of the provision of services by producing adverse effects in the digital or physical environment assessment and the encryption of network connections referred to in Article 6(2);

  6. the design of networks in line with the ICT security requirements established by the financial entity, taking into account leading practices to ensure the confidentiality, integrity, and availability of the network;

  7. the securing of network traffic between the internal networks and the internet and other external connections;

  8. the identification of the roles and responsibilities and steps for the specification, implementation, approval, change, and review of firewall rules and connections filters;

  9. the performance of reviews of the network architecture and of the network security design once a year, and periodically for microenterprisesa financial entity, other than a trading venue, a central counterparty, a trade repository or a central securities depository, which employs fewer than 10 persons and has an annual turnover and/or annual balance sheet total that does not exceed EUR 2 million, to identify potential vulnerabilitiesa weakness, susceptibility or flaw of an asset, system, process or control that can be exploited;

  10. the measures to temporarily isolate, where necessary, subnetworks, and network components and devices;

  11. the implementation of a secure configuration baseline of all network components, and the hardening of the network and of network devices in line with any vendor instructions, where applicable standards, as defined in Article 2, point (1), of Regulation (EU) No 1025/2012, and leading practices;

  12. the procedures to limit, lock, and terminate system and remote sessions after a specified period of inactivity;

  13. for network services agreements:

    1. the identification and specification of ICT and information security measures, service levels, and management requirements of all network services;

    2. whether those services are provided by an ICT intra-group service provideran undertaking that is part of a financial group and that provides predominantly ICT services to financial entities within the same group or to financial entities belonging to the same institutional protection scheme, including to their parent undertakings, subsidiaries, branches or other entities that are under common ownership or control or by ICT third-party service providersan undertaking providing ICT services.

For the purposes of point (h), financial entitiesas defined in Article 2, points (a) to (t) shall perform the review of firewall rules and connections filters on a regular basis in accordance with the classification established in accordance with Article 8(1) of Regulation (EU) 2022/2554 and the overall risk profile of ICT systems involved. For ICT systems that support 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 verify the adequacy of the existing firewall rules and connection filters at least every 6 months.

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