NIS2 Compliance for Financial Markets Infrastructure in Latvia
Trading venues, central counterparties (CCPs) and central securities depositories (CSDs) are classified as highly critical. They also fall under DORA's scope. Any disruption can trigger systemic financial risk across the EU.
Reporting to Information Technology Security Incident Response Institution (CERT.LV) / VARAM
Financial Markets Infrastructure entities in Latvia report significant cybersecurity incidents to CERT.LV, operating under Information Technology Security Incident Response Institution (CERT.LV) / VARAM. The NIS2 Article 23 timeline applies:
- 24 h Early warning — notify CERT.LV
- 72 h Formal incident notification with initial assessment
- 1 month Final incident report with root cause and remediation
Key cyber risks for Financial Markets Infrastructure in Latvia
- ▸Market manipulation via system compromise
- ▸Settlement infrastructure outages
- ▸Data integrity attacks on trade records
- ▸Third-party clearing system vulnerabilities
Key NIS2 obligations for Financial Markets Infrastructure entities
- ✓Real-time monitoring and anomaly detection
- ✓Incident notification within 72 hours
- ✓Operational resilience testing (DORA TLPT)
- ✓Third-party concentration risk management
Example in-scope organisations
- ·Stock exchanges and trading venues (MiFID II regulated)
- ·Central counterparties (CCPs)
- ·Central securities depositories (CSDs)
- ·Trade repositories
Is your Financial Markets Infrastructure organisation in scope in Latvia?
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Run the free NIS2 scope check →Frequently asked questions
Is my Financial Markets Infrastructure organisation in scope for NIS2 in Latvia?
Yes — if you are a medium or large organisation. In Latvia, Financial Markets Infrastructure is a NIS2 Annex I sector. Large organisations are Essential Entities; medium organisations are Important Entities. Transposed via the Cybersecurity Law (Kiberdrošības likums, 2024); CERT.LV handles incidents and VARAM oversees sector compliance. Use our free scope checker for a personalised result.
Who do I report NIS2 incidents to in Latvia as a Financial Markets Infrastructure entity?
Report significant incidents to CERT.LV (Information Technology Security Incident Response Institution (CERT.LV) / VARAM). You must submit an early warning within 24 hours, a detailed notification within 72 hours, and a final report within one month — per NIS2 Article 23.
What security measures must Financial Markets Infrastructure organisations implement under NIS2 in Latvia?
Under NIS2 Article 21, organisations must implement risk-proportionate security measures including: Real-time monitoring and anomaly detection; Incident notification within 72 hours; Operational resilience testing (DORA TLPT). Additional requirements may apply under Latvia's national transposition.
What are the NIS2 fines for Financial Markets Infrastructure organisations in Latvia?
Essential Entities face fines up to €10 million or 2% of global annual turnover under NIS2 Article 34. Latvia's national transposition may set specific enforcement priorities and fine scales.
Related sectors in Latvia
For decision-support purposes only. Exact scope depends on Latvia's national transposition of NIS2 — verify obligations with a qualified expert.