Regulatory Alerts2020-05-06
Added
Guidelines on the management of ICT and security risks
The European Banking Authority (EBA) published "Guidelines on the management of ICT and security risks" (EBA/GL/2019/04) on November 28, 2019, which revoke and incorporate prior guidelines. These Guidelines specify risk management measures for credit institutions, payment service providers, and investment firms to manage ICT and security risks across all activities, including specific measures for payment service providers regarding payment services and requirements for outsourced systems and cybersecurity incidents. Banco de Portugal expects these entities to observe the requirements of the Guidelines from June 30, 2020, and will consider them in its supervisory activity from that date. The requirements will be subject to future regulation by Banco de Portugal.
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