site.btaBulgaria Subject to Infringement Procedure over Failure to Transpose Digital Operational Resilience Rules for Financial Entities

The European Commission Thursday said it had decided to open infringement procedures by sending letters of formal notice to Bulgaria and 12 other Member States (Belgium, Denmark, Greece, Spain, France, Latvia, Lithuania, Malta, Poland, Portugal, Romania and Slovenia) for failing to fully transpose into national law by 17 January 2025 the digital operational resilience rules for financial entities such as banks, insurance companies and investment firms.

Full implementation of the legislation is key to strengthen the digital operational resilience of financial entities across the EU by addressing risks associated with the increasing digitalization of financial services. The Commission is sending letters of formal notice to the 13 Member States concerned that will have two months to respond and to complete their transposition and notify their measures. In the absence of a satisfactory response, the Commission may decide to issue a reasoned opinion.