Recital 64 Financial entities remain fully responsible

A financial entity means a natural or legal person created and recognised as such under the national law of its place of establishment, which may, acting under its own name, exercise rights and be subject to obligations; should at all times remain fully responsible for complying with its obligations set out in this Regulation. Financial entitiesas defined in Article 2, points (a) to (t) should apply a proportionate approach to the monitoring of risks means the potential for loss or disruption caused by an incident and is to be expressed as a combination of the magnitude of such loss or disruption and the likelihood of occurrence of the incident; emerging at the level of the ICT third-party service providers means an undertaking providing ICT services;, by duly considering the nature, scale, complexity and importance of their ICT-related dependencies, the criticality or importance of the services, processes or functions subject to the contractual arrangements and, ultimately, on the basis of a careful assessment of any potential impact on the continuity and quality of financial services at individual and at group means a group as defined in Article 2, point (11), of Directive 2013/34/EU; level, as appropriate.