The European Banking Authority, European Insurance and Occupational Pensions Authority and European Securities and Markets Authority issued a joint statement calling for a cross-sectoral, risk-based and consistent supervisory approach to information and communication technology risks arising from frontier artificial intelligence models. Financial entities should maintain robust governance and risk management frameworks focused on preventing, detecting and managing associated cyber risks. The statement is intended to support dialogue between financial entities and competent authorities while taking account of existing regulatory requirements and supervisory expectations. It also provides an update on ongoing and planned oversight under the Digital Operational Resilience Act for critical ICT third-party providers.
European Insurance and Occupational Pensions Authority2026-07-31
European Supervisory Authorities call for consistent risk-based supervision of frontier AI cyber risks
The European Supervisory Authorities called for consistent, risk-based supervision of cyber risks arising from frontier AI models. Financial entities should maintain robust governance and risk management frameworks, while DORA oversight of critical ICT third-party providers will also address these risks.