The Digital Operational Resilience Act (DORA) is a new EU directive that solves an important problem in the EU financial regulation. It enhances existing operational risk management processes by focusing on embedding a more robust and resilient approach to delivering services which are dependent on Information and Communication Technology (ICT) within Financial Markets.
DORA explicitly refers to ICT risk and sets rules on ICT risk-management, incident reporting, operational resilience testing and ICT third-party risk monitoring. The regulation acknowledges that ICT incidents and a lack of operational resilience have the possibility to jeopardise the soundness of the entire financial system, even if there is "adequate" capital for the traditional risk categories.
The Regulation shifts the focus from guaranteeing firms’ financial soundness to also ensuring they can maintain resilient operations through severe operational disruption caused by cyber security and other ICT issues.
By introducing a single, consistent supervisory approach across the relevant sectors, DORA ensures convergence and harmonisation of security and resilience practices across firms operating in the European Union (EU).
Event details
| Date | Thursday 7 December 2023 |
| Time | 9 - 11am |
| Location | Jersey |
Compliance date
The Digital Operation Resilience Act (Regulation (EU) 2022/2554) was enacted on 16 January 2023. There is a two-year implementation period and in scope financial entities must be compliant with the regulation by 17 January 2025.
Roundtable purpose
Our roundtable discussion has been crafted to help you navigate the complexities of DORA.
Our team of experts will provide a comprehensive overview of DORA, explaining the key components of the regulation, the objectives and implications for your organisation. The team will also share expert insights on the technical standards published to date, offering practical guidance on how to meet these standards efficiently and proportionately.
This roundtable is a unique opportunity to gather insights from our experts and engage in meaningful discussions with your industry peers. You will leave with a clear understanding of what DORA means for your organisation and how to prepare for the upcoming compliance date.
This event is "one not to be missed" in your essential compliance journey.
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