Regulatory Alerts2024-12-20
DORA Pilot for Trading for Own Account: Exploratory Research Report
The Dutch Authority for the Financial Markets (AFM) conducted a pilot study with a limited number of Trading for Own Account (HER) entities to assess their readiness for the Digital Operations Resilience Act (DORA) by the January 17, 2025 enforcement date. The report identifies significant gaps in IT asset management, change management, and access control, highlighting issues such as incomplete documentation, lack of coherent policy alignment, and insufficient awareness among board members regarding information security responsibilities. The AFM recommends conducting gap analyses, reviewing intra-group outsourcing agreements, and establishing robust classification processes for ICT assets to ensure compliance before the regulatory deadline.