ARTICLE · 05 SEPTEMBER 2022

What You May Not Know About DORA — But Should

FTI Consulting

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If you're an IT manager of a financial services firm in the European Union ("EU"), you no doubt have had your eye on DORA for almost two years now.

European UnionFinance and Banking

European financial services firms will have less than 24 months to comply with the European Council's Digital Operational Resilience Act ("DORA") once it's formalized later this year. Acting now has major advantages.

If you're an IT manager of a financial services firm in the European Union ("EU"), you no doubt have had your eye on DORA for almost two years now. DORA - the Digital Operational Resilience Act - is expected to go into full effect this fall following a review period that began in September 2020. When the Act arrives, all EU financial services ("FS") firms will have less than 24 months to strengthen their cybersecurity stance to comply with its new regulations.¹

Now, if you're on the board of an FS, or are senior management, you may not have been paying that much attention to DORA. And why should you? Isn't DORA essentially an IT issue? Can't your best tech folks handle compliance and testing?

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