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ARTICLE · 23 AUGUST 2024

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Ensuring Contractual Compliance With The Digital Resilience Operational Act

Elias Neocleous & Co LLC
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With the rapid technological progress that is taking place, EU legislators have been actively trying to keep up and enhance the regulatory provisions in the fields of cybersecurity.

CyprusTechnology
Michael Pelosi
Michael Pelosi
Emilios Charalambous
Emilios Charalambous
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With the rapid technological progress that is taking place, EU legislators have been actively trying to keep up and enhance the regulatory provisions in the fields of cybersecurity. Near the top of the headlines is the Digital Operational Resilience Act (DORA) under Regulation (EU) 2022/2554, which has been entered into force on 16 January 2023 and will apply as of 17 January 2025.

DORA was created with the intention of addressing resilience and security requirements for financial entities and their ICT systems, with two key objectives:

a. To comprehensively address ICT risk management in the financial services sector and;

b. To harmonise the ICT risk management regulations that already exist in individual member states

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