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ARTICLE · 28 JUNE 2023

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Digital Operational Resilience – Are You DORA Ready?

William Fry LLP
William Fry LLP
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William Fry LLP

William Fry LLP

William Fry advises leading Irish and international companies, covering both the public and private...

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The Digital Operational Resilience Act (Regulation EU 2022/2554) (DORA) came into force on 16 January 2023, and on 19 June 2023, the European Supervisory Authorities (ESAs)...

European UnionFinance and Banking
John O'Connor
John O'Connor
Shane Kelleher
Shane Kelleher
Eoin Caulfield
Eoin Caulfield
Claire O'Connor
Claire O'Connor
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The Digital Operational Resilience Act (Regulation EU 2022/2554) (DORA) came into force on 16 January 2023, and on 19 June 2023, the European Supervisory Authorities (ESAs) have launched a public consultation on the first batch of draft technical standards under DORA.

DORA is a cross-sectoral regulation which will apply to regulated financial service providers (RSFPs) such as (re)insurance undertakings and insurance intermediaries, banks, payment institutions, e-money institutions, and investment firms, to name a few. Notably, DORA also applies to certain in-scope ICT third-party service providers. DORA aims to improve operational resilience in RFSPs, enabling them to withstand ICT-related disruptions and threats, having particular regard to the increased risk of cyber-attacks, as well further harmonise operational resilience requirements for all EU financial services firms.

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