Oversight Cooperation & Information Exchange – JC/GL/2024/36

Abstract

Joint Committee Guidelines issued under DORA Article 32(7) establishing a common operational approach for cooperation and information exchange between the ESAs (including the Lead Overseer) and competent authorities for the oversight framework of critical ICT third-party service providers, covering procedures, roles, responsibilities, communication means, timelines, and follow-up information flows for recommendations.

Key Takeaways

• ✓
  Sets detailed procedures and conditions for allocating and executing oversight-related tasks between the ESAs (including the Lead Overseer) and competent authorities under DORA Article 32(7).
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  Defines practical rules for communication (English by default), single points of contact, and use of secure electronic channels/tools for confidential exchanges.
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  Establishes timelines and escalation approach for differences of opinion (via the Joint Oversight Network and Oversight Forum).
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  Specifies information exchanges for criticality assessment/designation, oversight plans, general investigations/inspections, and additional oversight-related notifications affecting financial entities.
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  Details reciprocal information flows to support follow-up of Lead Overseer recommendations (including remediation plans, assessments, penalty-payment decisions, and competent authority measures such as warnings/exit actions).

Keywords