{"id":48100,"date":"2025-05-02T06:30:23","date_gmt":"2025-05-02T06:30:23","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&#038;p=48100"},"modified":"2025-05-02T06:30:23","modified_gmt":"2025-05-02T06:30:23","slug":"navigating-dora-enc-drives-discussion-at-legal-500-gc-summit-cyprus-2025","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/navigating-dora-enc-drives-discussion-at-legal-500-gc-summit-cyprus-2025\/","title":{"rendered":"Navigating DORA: ENC Drives Discussion at Legal 500 GC Summit Cyprus 2025"},"content":{"rendered":"<p><strong>Elias Neocleous &amp; Co LLC(ENC) was once again at the forefront of the 2025\u00a0CG Summit Cyprus, a notable gathering hosted by the Legal500, which saw the participation of legal professionals, industry experts, and key decision-makers from across the country.\u00a0<\/strong><\/p>\n<p><!--more--><\/p>\n<p>The panel discussion of ENC focused on the newly implemented Digital Resilience Operational Act (DORA), its applicability and technical specifications, alongside the potential impact of such technological compliance regulations.<\/p>\n<p>Moderated by ENC partner, Andrea Kallis Parparinou, the panel discussion featured Michael Ioannou, Chief Information Officer at ENC, Emilios Charalambous \u2013 Associate at ENC, and Sofia Savva, Head of Legal &amp; Corporate Governance at Societe Generale Bank Cyprus.<\/p>\n<p>Kicking things off by pinpointing the increase in digitalization and cyber threats, Andrea remarked that \u201cThe ever-increasing reliance on tech is directly connected to the increasing risk of exposure to technology and the EU wants to regulate these ICT related risks\u201d, before Emilios Charalambous provided the audience of 100+ legal professionals with the background rationale of DORA coming into play, its current scope and the potential penalties, explaining that \u201cby taking a wide view, we are looking at an act that\u2019s been implemented in an attempt to address the growing cybersecurity risks and operational challenges faced by the financial sector due to digital transformation\u201d.<\/p>\n<p>Michael Ioannou\u2019s technical expertise showcased the key pillars of the act and the considerations that should be kept in mind when dealing with its compliance requirements, and set out the preexisting compliance standards that would support a company\u2019s operations regardless of whether they fall within the scope of the act or not.<\/p>\n<p>The experience of Sofia Savva in the banking industry was a vital addition to the panel, as her perspectives provided insights into the internal thinking process and approach of an established financial entity, remarking that \u201cWhile banks are making progress, some key challenges remain such as the high implementation costs (investing in new cybersecurity and compliance tools), managing compliance across multiple ICT service providers and regulatory uncertainty.\u201d<\/p>\n<p>Overall, all panelists in combination provided valuable insights and practical advise necessary for the rapidly growing technological regulation industry.<\/p>\n<p>Moving forward, ENC continues to prioritise legal excellence, focusing on delivering strategic advice and innovative solutions. The Summit once again highlighted our commitment to a forward-thinking approach, helping our clients navigate the changing legal landscape whilst planning proactive actions rather just reactive compliance.<\/p>\n<p>For further information or inquiries, please contact Andrea Kallis Parparinou at\u00a0<a href=\"mailto:andrea.kallis@neo.law\">andrea.kallis@neo.law<\/a><\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-48100","press_releases","type-press_releases","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases\/48100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases"}],"about":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/types\/press_releases"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/media?parent=48100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}