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 17 ICT change management

  1. As part of the safeguards to preserve the availability, authenticity, integrity, and confidentiality of data, financial entitiesas defined in Article 2, points (a) to (t) shall include in the ICT change management procedures referred to in Article 9(4), point (e), of Regulation (EU) 2022/2554, in respect of all changes to software, hardware, firmware components, systems, or security parameters, all of the following elements:

    1. a verification of whether the ICT security requirements have been met;

    2. mechanisms to ensure the independence of the functions that approve changes and the functions responsible for requesting and implementing those changes;

    3. a clear description of the roles and responsibilities to ensure that:

      1. changes are specified and planned;

      2. an adequate transition is designed;

      3. the changes are tested and finalised in a controlled manner;

      4. there is an effective quality assurance;

    4. the documentation and communication of change details, including:

      1. the purpose and scope of the change;

      2. the timeline for the implementation of the change;

      3. the expected outcomes;

    5. the identification of fall-back procedures and responsibilities, including procedures and responsibilities for aborting changes or recovering from changes not successfully implemented;

    6. procedures, protocols, and tools to manage emergency changes that provide adequate safeguards;

    7. procedures to document, re-evaluate, assess, and approve emergency changes after their implementation, including workarounds and patches;

    8. the identification of the potential impact of a change on existing ICT security measures and an assessment of whether such change requires the adoption of additional ICT security measures.

  2. After having made significant changes to their ICT systems, central counterpartiesmeans a central counterparty as defined in Article 2, point (1), of Regulation (EU) No 648/2012; and central securities depositoriesmeans a central securities depository as defined in Article 2(1), point (1), of Regulation (EU) No 909/2014; shall submit their ICT systems to stringent testing by simulating stressed conditions.

    Central counterpartiesmeans a central counterparty as defined in Article 2, point (1), of Regulation (EU) No 648/2012; shall involve, as appropriate, in the design and conduct of the testing referred to in the first subparagraph:

    1. clearing members and clients;

    2. interoperable central counterpartiesmeans a central counterparty as defined in Article 2, point (1), of Regulation (EU) No 648/2012;;

    3. other interested parties,

    Central securities depositoriesmeans a central securities depository as defined in Article 2(1), point (1), of Regulation (EU) No 909/2014; shall, as appropriate, involve in the design and conduct of the testing referred to in the first subparagraph:

    1. users;

    2. critical utilities and critical service providers;

    3. other central securities depositoriesmeans a central securities depository as defined in Article 2(1), point (1), of Regulation (EU) No 909/2014;;

    4. other market infrastructures;

    5. any other institutions with which central securities depositoriesmeans a central securities depository as defined in Article 2(1), point (1), of Regulation (EU) No 909/2014; have identified interdependencies in their ICT business continuity policy.

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