Several significant IT and cyber security regulations are set to come into effect or reach major milestones in the EU in 2024. In this instance, we can assume the UK will follow suit in due course; not just for geographical reasons but also because the majority of UK businesses will engage with EU businesses and therefore law, either indirectly or directly. These will effectively cause shifts in how we manage security and our infrastructure within our businesses.
Key EU regulations coming up in 2024
Network and Information Systems Security Directive 2 (NIS2): This directive significantly expands the scope of the original NIS Directive, requiring stricter risk management, incident reporting, and supply chain security measures for "essential entities" and "important entities" in various sectors like energy, transport, waste, and digital infrastructure. Member states have until October 17, 2024, to implement NIS2 into national law.
Cyber Resilience Act: This proposed regulation is expected to be finalised in 2024 and introduce EU-wide cyber security requirements for the design, development, production, and marketing of hardware, software, and internet-connected devices (IoT). This will streamline regulations across member states and improve consumer protection for digital products. Consumers will benefit from increased product security and transparency thanks to regulations like the Cyber Resilience Act.
EU Cyber Solidarity Act: This proposed regulation, also expected to be finalised in 2024, would establish a collaborative framework for responding to cyber threats across the EU. It would include a European Cyber Security Shield for mutual assistance and a comprehensive Cyber Emergency Mechanism for coordinated incident response.
Other legislative developments to look out for this year
Digital Operational Resilience Act (DORA): While entering full effect in January 2025, DORA establishes a binding ICT risk management framework for the financial sector within the EU. Businesses should prepare for stricter cyber security requirements and incident reporting obligations beginning in 2024 as the scale of work will require an early start.
EU Cyber Security Act: Amendments to the EU Cyber Security Act are expected to further strengthen ENISA, the EU cyber security agency, by providing additional resources and expanding its role in certification and harmonisation efforts.
Find out more about these regulations, and others to be aware of here
Impact and implications
Beyond the headlines: Proactive strategies for businesses
These regulations will significantly impact businesses operating in the UK and EU, requiring them to invest in improved cyber security measures, incident reporting procedures, and supply chain security. While these regulations may seem daunting, they present an opportunity to enhance your cyber security posture and build trust with customers. Here are some proactive steps you can take:
1. Conduct a thorough risk assessment: Identify your vulnerabilities and prioritise areas for improvement based on the upcoming regulations.
2. Develop a comprehensive cyber security strategy: Align your strategy with the requirements of the new regulations and establish clear protocols for risk management, incident response, and reporting.
3. Invest in training and awareness: Equip your employees with the knowledge and skills to identify and mitigate cyber threats.
4. Seek expert guidance: Consider partnering with a security consultant or managed security service provider (MSSP) to navigate the complexities of the evolving regulatory landscape. To seamlessly work alongside these different legislations and ensure proper compliance, a lot of work may be needed; this can take a lot of time, expert knowledge and resources. This is where an MSSP like Bluecube can help as they bring expert knowledge and experience to the table, offering several key benefits:
- Enhanced guidance and support: Expert MSSPs help businesses assess risks, prioritise vulnerabilities, and implement appropriate controls aligned with frameworks like Cyber Essentials and ISO 27001. Bluecube offer expert Governance, Risk and Compliance services alongside cyber and IT services as we understand how closely they work together, and therefore we are skilled in guiding you through becoming compliant with key legislations and accreditation requirements, should you need them.
- A proactive approach to threats: MSPs provide continuous monitoring and threat detection, proactively mitigating risks before they escalate into costly breaches.
- Streamlined regulatory compliance: With their in-depth understanding of the evolving UK cyber security landscape, MSSPs guide businesses through regulatory changes and ensure compliance.
- Cost-effective expertise: Outsourcing cyber security to an MSSP often proves more cost-effective than building and maintaining an in-house team.
Remember, proactively preparing for these changes will not only ensure compliance but also contribute to a stronger, more resilient digital future for your business. By staying informed, adopting a proactive approach, and collaborating with relevant experts, businesses can successfully navigate the evolving regulatory landscape and emerge stronger in the face of ever-changing cyber threats.
Building trust and success in a digital age
The EU's focus on cyber security collaboration and response through NIS2 and the proposed Cyber Solidarity Act demonstrates its commitment to building a more resilient digital environment. Remember, this is a constantly evolving landscape, so staying updated on the latest developments in EU IT and cyber security regulations is crucial for businesses and individuals alike. For further information and updates, consider following relevant EU and UK institutions and news sources. The choice to actively prioritise cyber security through collaborative partnerships with MSSPs like Bluecube is not just about mitigating risks and ensuring compliance. It's about building trust with customers, partners, and employees in an increasingly digital world. By embracing proactive cyber resilience, businesses can not only navigate the evolving EU and UK landscape but also establish a sustainable foundation for success in the digital age.
For more detailed information on these legislations and how to prepare yourself and your business for these upcoming changes, you can find out more by reading our previous blog on the topic; Legislation - How can organisations respond to increasing government regulation for cyber security
