European Union: Cybersecurity

The Malta Financial Services Authority has issued new ICT circulars highlighting critical deficiencies in digital operational resilience among financial firms, particularly in authorisation applications and DORA compliance.

The European Commission has unveiled the European Technological Sovereignty Package, a comprehensive legislative framework targeting four critical areas: semiconductor manufacturing through Chips Act 2.0, cloud and AI infrastructure via the Cloud and AI Development Act, digital autonomy through open source strategy, and energy sector digitalization. This ambitious initiative aims to fundamentally transform Europe's technological independence and competitive position in the global digital economy by 2030.

The European Data Protection Board and European Data Protection Supervisor have issued their Joint Opinion on the European Commission's proposed Cybersecurity Act 2 and amendments to the NIS 2 Directive. While generally supportive of strengthened cybersecurity measures, the opinion emphasizes the need to balance effective security protocols against fundamental rights to privacy and data protection, offering specific recommendations to ensure compliance with EU data protection law.