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ARTICLE · 29 JANUARY 2025

DORA Now In Force In The EU

Hogan Lovells Cadwalader
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Regulation (EU) 2022/2554 on digital operational resilience for the financial sector ("DORA")...

European UnionFinance and Banking
Michael Newell
Michael Newell
Alix Prentice
Alix Prentice
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Regulation (EU) 2022/2554 on digital operational resilience for the financial sector ("DORA"), which establishes a uniform set of requirements relating to the security of network and information systems supporting financial system participants' business processes, is now live as of 17 January 2025, without any transitional provision.

A wide range of rules applicable for managing ICT risks, including risks linked to ICT third-party service providers, is now in force. DORA applies to nearly all financial entities regulated in the EU, with very few exemptions for smaller institutions. For the first time, it also covers major unregulated ICT third-party service providers; a significant shift in European financial regulation.

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