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

  1. The financial entitiesas defined in Article 2, points (a) to (t) referred to in Article 16(1) of Regulation (EU) 2022/2554 shall submit the report on the review of the ICT riskmeans any 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; management framework referred to in paragraph 2 of that Article in a searchable electronic format.

  2. The report referred to in paragraph 1 shall contain all of the following information:

    1. an introductory section providing:

      1. a description of the context of the report in terms of the nature, scale, and complexity of the financial entity’s services, activities, and operations, the financial entity’s organisation, identified critical functions, strategy, major ongoing projects or activities, and relationships, and the financial entity’s dependence on in-house and outsourced ICT servicesmeans digital 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; and systems, or the implications that a total loss or severe degradation of such systems would have on critical or important functionsmeans a 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; and market efficiency;

      2. an executive level summary of the current and near-term ICT riskmeans any 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; identified, threat landscape, the assessed effectiveness of its controls, and the security posture of the financial entity;

      3. information about the reported area;

      4. a summary of the major changes in the ICT riskmeans any 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; management framework since the previous report;

      5. a summary and a description of the impact of major changes to the simplified ICT riskmeans any 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; management framework since the previous report;

    2. where applicable, the date of the approval of the report by the management bodymeans a management body as defined in Article 4(1), point (36), of Directive 2014/65/EU, Article 3(1), point (7), of Directive 2013/36/EU, Article 2(1), point (s), of Directive 2009/65/EC of the European Parliament and of the Council (31), Article 2(1), point (45), of Regulation (EU) No 909/2014, Article 3(1), point (20), of Regulation (EU) 2016/1011, and in the relevant provision of the Regulation on markets in crypto-assets, or the equivalent persons who effectively run the entity or have key functions in accordance with relevant Union or national law; of the financial entity;

    3. a description of the reasons for the review, including:

      1. where the review has been initiated following supervisory instructions, evidence of such instructions;

      2. where the review has been initiated following the occurrence of ICT-related incidentsmeans a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity;, the list of all those ICT-related incidentsmeans a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity; with related incident root-cause analysis;

    4. the start and end date of the review period;

    5. the person responsible for the review;

    6. a summary of findings, and a self-assessment of the severity of the weaknesses, deficiencies, and gaps identified in ICT riskmeans any 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; management framework for the review period, including a detailed analysis thereof;

    7. remedying measures identified to address weaknesses, deficiencies, and gaps in the simplified ICT riskmeans any 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; management framework, and the expected date for implementing those measures, including the follow-up on weaknesses, deficiencies, and gaps identified in previous reports, where those weaknesses, deficiencies, and gaps have not yet been remedied;

    8. overall conclusions on the review of the simplified ICT riskmeans any 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; management framework, including any further planned developments.

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