MEPs approve new stricter cybersecurity rules

MEPs

New rules requiring EU countries to meet stricter supervisory and enforcement measures as well as harmonising sanctions have been approved by MEPs.

According to the European Parliament, more entities and sectors will have to take measures to protect themselves. Essential sectors, such as the energy, transport, banking, health, digital infrastructure, public administration and space sectors will be covered by the new security provisions.

During negotiations, MEPs insisted on the need for clear and precise rules for companies and pushed for the inclusion of as many governmental and public bodies as possible within the scope of the directive.

The new rules will also protect so-called “important sectors” such as postal services, waste management, chemicals, food, manufacturing of medical devices, electronics, machinery, motor vehicles and digital providers. All medium-sized and large companies in selected sectors would fall under the legislation.

It also establishes a framework for better cooperation and information sharing between different authorities and member states and creates a European vulnerability database.

MEPs adopted the text with 577 votes to 6, with 31 abstentions. After Parliament’s approval, the council also has to formally adopt the law before it will be published in the EU’s Official Journal.

Copyright © 2022 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research

Investors

The following investor(s) were tagged in this article.