Regulatory Alerts2024-12-10 | C668CySEC Circular C668: Workshop on DORA Register of Information Preparation
The Cyprus Securities and Exchange Commission invites regulated financial entities to a virtual workshop on 18 December 2024 regarding the preparation of registers of information under the Digital Operational Resilience Act. This initiative supports compliance with DORA, which mandates the maintenance of ICT third-party provider registers effective 17 January 2025. The event will cover outcomes from the European Supervisory Authorities' voluntary Dry Run exercise and the upcoming publication of updated reporting technical packages and validation rules.
TO : Regulated Entities: i. Cyprus Investment Firms (‘CIFs’) ii. Central Securities Depositories iii. Trading Venues iv. Alternative Investment Fund Managers (‘AIFMs’) v. UCITS Management Companies (‘UCITS’) FROM : Cyprus Securities and Exchange Commission DATE : 10 December 2024 CIRCULAR No : C668 SUBJECT : Workshop about the preparation of the register of information under the Digital Operational Resilience Act
The Cyprus Securities and Exchange Commission (the ‘CySEC') wishes, with this circular, to inform Financial Entities1 of the upcoming workshop initiated by the European Supervisory Authorities (EBA, EIOPA, ESMA – collectively referred to as ESAs) on how the financial entities should prepare their registers of information under Digital Operation Resilience Act (‘DORA’). With the implementation of DORA on 17th January 2025, financial entities will have to maintain registers of information regarding their use of ICT third-party providers. To support the industry preparations, the ESAs have shared the draft templates, data point model and reporting technical package in May 2024 and have carried out a voluntary Dry Run exercise on reporting of registers of information with participation of around 1000 financial entities across the financial sector in the EU. The ESAs also published a list of validation rules that will be used when analysing the registers of information and the visual representation of the data model. These rules will be included in the updated reporting technical package (including updated data point model, taxonomy and validation rules), which is set to be published in December 2024. CySEC will integrate these submissions into its existing XBRL Portal and encourages entities that have not yet registered on the portal to do so. 1 As defined in Article 2(1) and (2) of DORA.
Page 2 of 2 Workshop Financial entities that would like to learn more about how to prepare their registers of information and about the outcomes of the 2024 Dry Run exercise, are invited to take part in an informative workshop on 18 December 2024. The workshop will be held virtually from 11:00 to 14:00 (EET – Cyprus time). Interested parties will be able to register until 16 December 2024 at the following link. Yours sincerely, Dr George Theocharides Chairman Cyprus Securities and Exchange Commission