Article 39 Components of the ICT business continuity plan

The financial entitiesas defined in Article 2, points (a) to (t) referred to in Article 16(1) of Regulation (EU) 2022/2554 shall develop their ICT business continuity plans considering the results of the analysis of their exposures to and potential impact of severe business disruptions and scenarios to which their ICT assets means a software or hardware asset in the network and information systems used by the financial entity; supporting critical or important functions means a function, the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law; might be exposed, including a cyber-attack means a malicious ICT-related incident caused by means of an attempt perpetrated by any threat actor to destroy, expose, alter, disable, steal or gain unauthorised access to, or make unauthorised use of, an asset; scenario.

1. be approved by the management body means a management body as defined in Article 4(1), point (36), of Directive 2014/65/EU, Article 3(1), point (7), of Directive 2013/36/EU, Article 2(1), point (s), of Directive 2009/65/EC of the European Parliament and of the Council (^31^), Article 2(1), point (45), of Regulation (EU) No 909/2014, Article 3(1), point (20), of Regulation (EU) 2016/1011, and in the relevant provision of the Regulation on markets in crypto-assets, or the equivalent persons who effectively run the entity or have key functions in accordance with relevant Union or national law; Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (OJ L 302, 17.11.2009, p. 32). of 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;;

2. be documented and readily accessible in the event of an emergency or crisis;

3. allocate sufficient resources for their execution;

4. establish planned recovery levels and timeframes for the recovery and resumption of functions and key internal and external dependencies, including ICT third-party service providers means an undertaking providing ICT services;;

5. identify the conditions that may prompt the activation of the ICT business continuity plans and what actions are to be taken to ensure the availability, continuity, and recovery of the financial entitiesas defined in Article 2, points (a) to (t)’ ICT assets means a software or hardware asset in the network and information systems used by the financial entity; supporting critical or important functions means a function, the disruption of which would materially impair the financial performance of a financial entity, or the soundness or continuity of its services and activities, or the discontinued, defective or failed performance of that function would materially impair the continuing compliance of a financial entity with the conditions and obligations of its authorisation, or with its other obligations under applicable financial services law;;

6. identify the restoration and recovery measures for critical or important business functions, supporting processes, information assets means a collection of information, either tangible or intangible, that is worth protecting;, and their interdependencies to avoid adverse effects on the functioning of the financial entitiesas defined in Article 2, points (a) to (t);

7. identify backup procedures and measures that specify the scope of the data that are subject to the backup, and the minimum frequency of the backup, based on the criticality of the function using those data;

8. consider alternative options where recovery may not be feasible in the short term because of costs, 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;, logistics, or unforeseen circumstances;

9. specify the internal and external communication arrangements, including escalation plans;

10. be updated in line with lessons learned from incidents means an incident as defined in Article 6, point (6), of Directive (EU) 2022/2555;, tests, new 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;, and threats identified, changed recovery objectives, major changes to 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;’s organisation, and to the ICT assets means a software or hardware asset in the network and information systems used by the financial entity; supporting critical or business functions.

For the purposes of point (f), the measures referred to in that point shall provide for the mitigation of failures of critical third-party providers.