The MoU solidifies ongoing discussions between the ESAs and ENISA, supporting their collaboration in light of the Directive on measures for a high common level of cybersecurity (NIS2 Directive) and the Digital Operational Resilience Act (DORA). Outlined within the MoU is a framework for cooperation and information exchange on various matters, including policy implementation, incident reporting, and oversight of critical Information Communication Technologies (ICT) third-party providers. Additionally, the MoU aims to promote regulatory convergence, facilitate cross-sectoral learning, capacity building, and information exchange on emerging technologies.
The Chair of the Joint Committee of the ESAs and ESMA emphasised the agreement's significance in strengthening the collaboration between the ESAs and ENISA, underscoring their commitment to mitigating information security risks in the financial system. Representatives from ENISA highlighted the MoU as a step towards a unified approach in cybersecurity across sectors and geographies, particularly in implementing and harmonizing NIS2 and DORA provisions.
ENISA, established in 2004 and strengthened by the EU Cybersecurity Act, aims to achieve a high common level of cybersecurity across Europe through various initiatives, including enhancing trust in ICT products and processes and preparing Europe for future cyber challenges.
The ESAs, comprising the EBA, EIOPA, and ESMA, work to protect the public interest by ensuring the stability and effectiveness of the financial system. They develop and implement a common regulatory framework and supervisory practices across the EU, coordinating closely through the Joint Committee to ensure consistency in their activities.
In April 2024, the EBA, EIOPA and ECB have established a common governance framework to collaborate on the DPM 2.0 Standard.
Specifically, the three entities have formed a Data Point Model (DPM) alliance to establish a unified governance framework for collaborating on the DPM 2.0 Standard. This alliance, in conjunction with the establishment of a Joint Bank Reporting Committee (JBRC) between the EBA and ECB, represented progress toward constructing an integrated reporting system.
After the release of the DPM 2.0 standard by the EBA and EIOPA in June 2023, the two European Supervisory Authorities (ESAs), along with the ECB, have reached consensus on the mutual arrangements governing their cooperation on DPM 2.0, termed as the DPM alliance.
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