A number of financial market representative bodies recently issued a joint statement in which they call on ESAs to clarify that regulated financial services should not be treated as ‘ICT services’ for the purpose of DORA.
DORAOn 26 July 2024, the European Supervisory Authorities published final draft regulatory technical standards on the subcontracting of information, communication and technology services that support critical or important functions within financial entities.
DORAGerry Cross, Director of Financial Regulation in the Central Bank of Ireland, provides an update on the timing for delivering the new regulatory framework under DORA.
DORAThe EBA Single Rulebook for DORA has been updated with a new question and answer relating to the applicability of DORA to EU branches of credit institutions that are headquartered outside of the EU (referred to as ‘third-country branches’).
DORAFollowing on from its evaluation of credit institutions’ management of IT and cyber risks in 2023, the European Central Bank announced, on 3 January 2024, that it will be conducting a cyber resilience stress test on 109 directly supervised credit institutions in 2024.
DORARegulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA) which will apply from 17 January 2025 is intended to create a harmonised regulatory framework that enhances the digital operational resilience of in-scope EU financial entities in respect of ICT related disruptions and threats.
DORAOn 8 December 2023, the European Supervisory Authorities (ESAs) published the second tranche of policy measures under Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA) for public consultation.
DORAOn 29 September 2023, the European Supervisory Authorities published their joint response to the European Commission’s Call for Advice on digital operational resilience for the financial sector in order to specify further criteria for critical ICT third party service providers and determine oversight fees levied on such providers.
DORAAs a measure to enhance the overall digital operational resilience of the EU financial sector, Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA) entered into force on 16 January 2023 and will apply to in-scope financial services entities from 17 January 2025.
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