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ARTICLE · 23 JANUARY 2025

Cybersecurity In The Financial Sector: EU's Digital Operational Resilience Act Takes Effect

Mayer Brown
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Beginning 17 January 2025, the Digital Operational Resilience Act (DORA) will apply to almost all EU financial entities, including banks, insurers and reinsurers, brokers...

European UnionTechnology
Ana Hadnes Bruder
Ana Hadnes Bruder
Oliver Yaros
Oliver Yaros
Marcel Hörauf
Marcel Hörauf
Musonda Kapotwe
Musonda Kapotwe
Benjamin Beck
Benjamin Beck
Ondrej Hajda
Ondrej Hajda
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Beginning 17 January 2025, the Digital Operational Resilience Act (DORA) will apply to almost all EU financial entities, including banks, insurers and reinsurers, brokers , payment and electronic money institutions, investment firms, and crypto-asset service providers.

DORA requires in-scope organizations to comply with common rules and standards for the management of information and communication technology (ICT) risk, which relates broadly to risks arising in relation to the use of network and information systems.

Key pillars of DORA relate to:

  • ICT risk management: Key obligations include cybersecurity governance and asset inventory, and reviewing or implementing certain key documents and processes such as an Information Security Policy and a Business Continuity Plan;

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