Recital 2 Time limit for the initial notification

To avoid imposing an undue reporting burden on financial entitiesas defined in Article 2, points (a) to (t) at a time when they are handling the ICT-related incident means a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity;, the content of the initial notification should be limited to the most significant information. To be able to take proper supervisory action, competent authoritiesas defined in Article 46 need to receive information about major ICT-related incidents means an ICT-related incident that has a high adverse impact on the network and information systems that support critical or important functions of the financial entity; as quickly as possible after the 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; has classified an ICT-related incident means a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity; as major. Consequently, the time limit for submitting an initial notification as referred to in Article 19(4), point (a), of Regulation (EU) 2022/2554 should be as short as possible after an ICT-related incident means a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity; has been classified as major, whilst still allowing for flexibility, especially for service business models that are not particularly time-critical, in case financial entitiesas defined in Article 2, points (a) to (t) need more time to handle the ICT-related incident means a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity; after becoming aware of it.