Regulatory Alerts2022-07-28
Added · Updated
Provisional Agreement Reached on the Digital Operational Resilience Act (DORA)
A provisional political agreement on the Digital Operational Resilience Act (DORA) was reached on 23 July 2022, following earlier negotiations in May 2022. The Regulation is expected to enter into force in Q1 2023 and become fully applicable by Q1 2025 after a two-year implementation period. DORA introduces requirements for financial entities regarding ICT risk management, incident reporting, digital operational resilience testing, and third-party provider risk management. Authorised Persons are recommended to review the provisional agreement text and begin preparations while supervisory Level 2 and Level 3 texts are developed.
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