EU member states have for the first time agreed union-wide
cybersecurity legislation, demonstrating just how seriously it
takes one of the biggest
threats to financial stability.
and Information Security Directive’s (NIS
Directive) main aims are to boost cooperation and information
sharing across the states through security response teams, and
improve member states’ general defences against
cyber-attacks. It will also introduce mandatory breach
notifications for certain types of attacks.
"As with all these pan-EU
initiatives, each member state is only as strong as its lowest
common denominator," said Mark Deem, a partner at
Cooley. A weak link anywhere in the chain – which
is inevitable, given the scope of countries and companies
caught by the new law – could effectively undermine
the overall response.
While member states are free to implement the directive as
they see fit, discrepancies in approach could cause problems
for companies operating...