What REGULATION (EU) 2022/2554 on digital operational resilience for the financial sector - Article 29: Assessment of ICT concentration risk at Union level requires
This article requires the designated Lead Overseer to conduct and coordinate a preliminary assessment of ICT concentration risk at the Union level for each critical ICT third-party service provider.
Pillar: Banking & Global Finance · Authority: European Parliament and Council of the European Union · Version: 1.0.0 · Last updated:
Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32022R2554
SHA-256 integrity: 3eb9117556f384ee426670a3962488cf3276b1c206ce57416558dadf0fc1e3a3
Primary Citations — 7 traced to source
- Article 29(1): The Lead Overseer shall, for each critical ICT third-party service provider, lead and coordinate an assessment of whether that critical ICT third-party service provider is exposed to a significant degree of concentration risk.
- Article 29(3): The assessment referred to in paragraph 1 shall identify specific risks arising from a large number of financial entities relying on the same critical ICT third-party service provider for the provision of services that support the delivery of critical or important functions.
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