EU to create pan-European cyber incident coordination framework


The European Systemic Risk Board (ESRB) proposed a new systemic cyber incident coordination framework that would allow EU relevant authorities to coordinate better when responding to major cross-border cyber incidents impacting the Union’s financial sector.

ESRB is an independent EU body established in 2010 that oversees the European Union’s financial system to prevent and mitigate systemic risk.

“The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) published today a statement welcoming the European Systemic Risk Board’s (ESRB) Recommendation on systemic cyber risk, which calls on the ESAs to prepare for the gradual development of a Pan-European systemic cyber incident coordination framework (EU-SCICF),” a press release published Thursday reads.

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