In October, the European Cybersecurity Industry Leaders (ECIL)*, a working group of industry representatives created in 2015 to advise the European Commission, published a report analyzing the challenges facing the financial sector in the area of cybersecurity.

Like its precursors, the report makes recommendations to the European Commission (EC) to strengthen cybersecurity in Europe. The document analyzes the need for a common security certificate among member states and highlights the management of incident reporting and the harmonization of policies in the European Economic Area, as crucial elements for achieving the single digital market.

One of its recommendations is that the European Network and Information Security Agency (ENISA) should take on the job of independent auditor; another is that a version 2 of the information security management standards (ISMS 2.0) should be launched, updating the cybersecurity directive currently in force.