With the coming into force of a comprehensive new package of
cyber security legislation over the course of 2018, certain
businesses in the financial services industry are now required to
ensure they are compliant with new rules and have in place a
sufficiently robust cyber security posture.
These requirements apply under the EU Directive on the Security
of Network and Information Systems (the "NIS
Directive")(1), which took effect on 9 May
2018, and which was transposed into Irish law by way of the
European Union (Measures for a High Common Level of Security of
Network and Information Systems) Regulations 2018 (the
"2018 Regulations") in September of the
same year. We discuss here the impact of the new regime for
in-scope financial service sector operators.
