Issue 1
EBA, EIOPA and ESMA call for stronger governance of frontier AI ICT risks
The EBA, EIOPA and ESMA issued a joint statement urging the EU financial sector to manage ICT risks from frontier AI models more strictly and to ensure consistent supervision. The statement was published on 3 August 2026; legal-adviser analysis highlights the impact of DORA and the obligations falling on AI providers.
Who is affected and how
- banking professional
- AI models and their providers must be brought into the ICT risk-management and third-party risk framework.
- insurer
- Processes that use AI, such as claims handling and pricing, must also be covered in the DORA ICT risk register.
- fintech company
- AI companies serving European financial firms should prepare to pass DORA requirements through in their contracts.
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chief financial officerThe margin risk of leveraged, concentrated AI positions should also be reviewed in institutional investment policy.Hungary
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