EBA, EIOPA and ESMA call for enhanced governance and consistent supervision to mitigate ICT risks from frontier AI models in the EU financial sector
The European Supervisory Authorities (EBA, EIOPA, and ESMA) published a joint statement calling for a cross-sectoral, risk-based, and consistent supervisory approach to mitigate ICT risks stemming from frontier AI models in the EU financial sector. The statement outlines measures to help financial entities strengthen operational resilience against cyber risks linked to frontier AI models, with emphasis on prevention, detection, and management of these risks. The guidance takes into account existing regulatory requirements, the European Commission's Action Plan on Cybersecurity and Artificial Intelligence, and publications from ESRB, ENISA, SSM and other competent authorities.
Who is affected
Financial entities in the EU financial sector
- Action
- Action required
- Language
- EN