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The Council's reached an agreement on its position on the 2025 EU draft budget. In total, the Council's position for next year's budget amounts to €191.53 billion in commitments and €146.21 billion in payments.
MEPs have chosen Parliament’s new Bureau, with all 14 Vice-Presidents and five Quaestors elected on Tuesday and Wednesday. Source : © European Union, 2024 - EP
EESC steps up relations with African civil society, reinforcing the EU's strategic partnership with the African Union
Amalia TSOUMANI
Wed, 17/07/2024 - 13:15
On 17 July, the President of the European Economic and Social Committee (EESC), Oliver Röpke, signed a Memorandum of Understanding (MoU) with the African Union Economic, Social and Cultural Council (ECOSOCC) represented by its Presiding Officer, Khalid Boudali. The memorandum aims to formalise the partnership between the two institutions and enhance economic and social stakeholder involvement in the Africa-EU partnership.
ESAs published second batch of policy products under DORA
17 July 2024
Digital Finance and Innovation
Joint Committee
The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) published today the second batch of policy products under the Digital Operational Resilience Act (DORA). This batch consists of four final draft regulatory technical standards (RTS), one set of Implementing Technical Standards (ITS) and 2 guidelines, all of which aim at enhancing the digital operational resilience of the EU’s financial sector.
The package focuses on the reporting framework for ICT-related incidents (reporting clarity, templates) and threat-led penetration testing while also introducing some requirements on the design of the oversight framework, which enhance the digital operational resilience of the EU financial sector, thus also ensuring continuous and uninterrupted provision of financial services to customers and safety of their data.
The ESAs are publishing the following final draft technical standards:
RTS and ITS on the content, format, templates and timelines for reporting major ICT-related incidents and significant cyber threats;
RTS on the harmonisation of conditions enabling the conduct of the oversight activities;
RTS specifying the criteria for determining the composition of the joint examination team (JET); and
RTS on threat-led penetration testing (TLPT).
The set of guidelines include:
Guidelines on the estimation of aggregated costs/losses caused by major ICT-related incidents; and
Guidelines on oversight cooperation.
Next steps
The guidelines have already been adopted by the Boards of Supervisors of the three ESAs. The final draft technical standards have been submitted to the European Commission, which will now start working on their review with the objective to adopt these policy products in the coming months. The remaining RTS on Subcontracting will be published in due course.
Background
The public consultation on all the above-mentioned technical standards and guidelines took place from 8 December 2023 to 4 March 2024. The ESAs received more than 364 responses from market participants (265 for the technical standards and 99 for the two guidelines), including a joint response from ESAs’ stakeholder groups. The RTS on JET has been consulted on separately from 18 April to 18 May and brought forward 9 responses from stakeholders. All these public consultations led to specific changes to the technical standards, ensuring simplification and streamlining of the requirements, greater proportionality and addressing sector-specific concerns. ESAs have consulted with the European Central Bank (ECB) and European Union Agency for Cybersecurity (ENISA) for the technical standards relating to incident reporting.
Further information:
Cristina Bonillo
Senior Communications Officerpress@esma.europa.eu
17/07/2024
JC 2024 29
Final Report on draft RTS specifying elements related to threat led penetration tests
17/07/2024
JC 2024 33
Final report on the draft RTS and ITS on incident reporting
17/07/2024
JC 2024 34
Final Report on Joint Guidelines on the estimation of aggregated annual costs and losses caused by major ICT-related incidents
17/07/2024
JC 2024-35
Final Report on draft RTS on harmonisation of conditions enabling the conduct of the oversight activities
17/07/2024
JC 2024 36
Final Report on Joint Guidelines on the oversight cooperation and information exchange between the ESAs and the competent authorities
17/07/2024
JC 2024 54
Final Report on draft RTS on the harmonisation of conditions enabling the conduct of the oversight activities
With Russia’s war against Ukraine raging on, Parliament reconfirmed on Wednesday its view that the EU must continue to support Kyiv for as long as it takes until victory.Committee on Foreign Affairs Source : © European Union, 2024 - EP
On Wednesday, MEPs approved the proposal on the number of members in Parliament’s 20 committees and four sub-committees, as well as its 48 standing delegations. Source : © European Union, 2024 - EP
The Board of Directors of the European Investment Bank (EIB) today approved €8.4 billion of new financing to build homes and schools, harness renewable energy, upgrade water, transport and communications networks and bolster business innovation and growth in Europe and around the world.
The European Supervisory Authorities published today the second batch of policy products under the Digital Operational Resilience Act (DORA). This batch consists of four final draft regulatory technical standards (RTS), one set of Implementing Technical Standards (ITS) and 2 guidelines.
Press briefing ahead of the upcoming Foreign Affairs Council will take place on 19 April 2024 at 14.30.
ESAs establish framework to strengthen coordination in case of systemic cyber incidents
17 July 2024
Digital Finance and Innovation
Joint Committee
The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) will establish the EU systemic cyber incident coordination framework (EU-SCICF), in the context of the Digital Operational Resilience Act (DORA), that will facilitate an effective financial sector response to a cyber incident that poses a risk to financial stability, by strengthening the coordination among financial authorities and other relevant bodies in the European Union, as well as with key actors at international level.
Over the coming months, the ESAs will kickstart the implementation of the framework by setting up:
the EU-SCICF Secretariat, supporting the functioning of the framework;
the EU-SCICF Forum, working on testing and maturing the functioning;
the EU-SCICF Crisis Coordination, facilitating during a crisis the coordination of actions by the participating authorities.
The ESAs will identify legal and other operational hurdles encountered during the initial set up and report these to the European Commission. The further development of the framework will be subject to the availability of resources and other measures taken by the European Commission.
Background
After identifying a shortfall in crisis management frameworks that could lead to a lack of financial sector coordination in the event of a significant cross-border information and communication technologies (ICT) incident, the European Systemic Risk Board (ESRB) recommended the ESAs to build on the role foreseen in the Digital Operational Resilience Act (DORA), and to gradually develop a pan-European systemic cyber incident coordination framework (EU-SCICF).
Further information:
Cristina Bonillo
Senior Communications Officerpress@esma.europa.eu
17/07/2024
EU-SCICF
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