Recital 54

Based on Regulation (EU) 2022/2554, the financial sector has been at the forefront in implementing a harmonised, comprehensive and effective framework, including with regard to incident reporting. In order to simplify compliance, it is appropriate to align the incident reporting framework established under Regulation (EU) 2022/2554 with the national entry point, while ensuring continuity and stability of the existing reporting framework, and considering that the national entry point would be operational after it has been assessed that it ensures the proper functioning, reliability, integrity and confidentiality. Further, Regulation (EU) 2022/2554 has introduced standardised reporting templates streamlining the content of reports for major ICT-related incidents for the financial sector. The experience gained from the adoption of these templates provides valuable insights and best practices that should be taken into account when specifying the type of information, the format and the procedure of a notification for the purposes of reporting to the national entry point under Directive (EU) 2022/2555, Directive (EU) 2022/2557 or Regulation (EU) 2016/679, where appropriate. For this purpose, Member States should take due account of the regulatory technical standards adopted pursuant to Regulation (EU) 2022/2554, which specify the content of the initial notification, as well as the intermediate and final reports, concerning major ICT-related incidents. This approach aims to ensure consistency, promote synergies and reduce administrative burden on entities by minimizing the number of data fields that entities are required to complete, thereby facilitating more efficient and streamlined reporting processes.