ESMA prioritises cyber risks
The European Securities and Markets Authority is placing more importance on cyber risks and digital resilience, adding it to its Union Strategic Supervisory Priorities (USSPs) alongside ESG disclosures.
A greater emphasis will be placed on supervising ICT risk management as technology continues to develop quickly.
The USSP will come into force in 2025, in line with the Digital Operational Resilience Act.
Cyber risk and digital resilience will replace market data quality as the priority, after extensive work has been carried out to provide appropriate methodologies and supervisory tools.