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Digital Operational Resilience of Financial Services Act
COMMISSION STAFF WORKING DOCUMENT EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT Accompanying the document Proposal for a Directive of the European Parliament and of the Council amending Directives 2006/43/EC, 2009/65/EC, 2009/138/EU, 2011/61/EU, EU/2013/36, 2014/65/EU, (EU) 2015/2366 and EU/2016/2341
Initiative summary:
A financial services act applicable to regulated financial institutions will complete the single rulebook reinforcing the digital dimension of their operational resilience. The act would set a higher common baseline for Information and Communication Technology (ICT) risk for all financial services sectors in its scope and establish a coherent framework for the oversight of critical ICT providers (‘’ICT third party providers’’) to the financial institutions.