IT-Security Regulatory Update | July 2022

IT-Security Regulatory Update | June 2022

The June update focuses on the likely revision of BaFin’s guidance on outsourcing to the cloud. While these are non-binding, they provide valuable guidance for banks, insurance companies and financial service providers.

VAIT amendment published

VAIT amendment published

Cyber risks and IT security are increasingly in the focus of supervision with new technologies on the rise. Consequently, the German Federal Financial Supervisory Authority (BaFin) published its Insurance Supervisory Requirements for IT (VAIT) on March 3, 2022, thus bringing them into force.