Cloud computing data processing – KNF moves the deadline because of COVID-19

On January 24^th 2020 Polish Financial Supervision Committee published extensive guidelines on the matters related to processing by supervised entities of information using public or hybrid cloud computing services. KNF also informs that they will organize trainings in order to explain the guidelines to market participants.

Due to the COVID-19 disease pandemic, KNF decided to change the deadlines set out in the guidelines:

1. for supervised entities that use cloud computing services, the deadline for adapting to the requirements of the guidelines is changing: from August 1^st 2020 to November 1^st 2020,
2. for supervised entities that intend to use cloud computing services, the obligation to inform KNF about such intention is changing: from 14 days prior to 30 days prior to starting the use of cloud computing services.

The full text of the announcement is available on the KNF website:

https://www.knf.gov.pl/knf/pl/komponenty/img/Komunikat_UKNF_Chmura_Obliczeniowa_EN_69242.pdf

We invite you to contact our Law Firm, which offers services such as:

1. payment services,
2. representation in front of KNF,
3. legal design of internal systems and bye-laws so that they comply with EBA and KNF guidelines.