Regulatory Alerts2024-04-24 | C639Voluntary Dry Run Exercise for Digital Operational Resilience Act (DORA) Implementation
The Cyprus Securities and Exchange Commission issued Circular C639 to notify regulated entities of a voluntary dry run exercise initiated by the European Supervisory Authorities to prepare for the Digital Operational Resilience Act. This exercise requires financial entities to submit registers of information regarding their use of ICT third-party providers between 1 July and 30 August 2024 to test reporting processes and address data quality issues prior to the 2025 mandatory implementation. Participants will receive support from the ESAs, including feedback on data quality and access to introductory workshops, to help establish their registers in the format required for steady-state reporting.
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