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ARTICLE · 24 JANUARY 2025

Understanding DORA: Digital Operational Resilience Act Now In Effect For Financial Entities And ICT Service Providers

Jones Day
Jones Day
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Jones Day

Jones Day

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The Digital Operational Resilience Act ("DORA"), Regulation (EU) 2022/2554, represents a pivotal step in strengthening the digital operational resilience framework for financial entities across the European Union.

GlobalTechnology

DORA, the first EU regulation designed to establish a unified and robust digital resilience standard for the financial sector, becomes directly applicable on January 17, 2025, introducing significant penalties and consequences for a broad range of financial entities and third-party ICT service providers.

The Digital Operational Resilience Act ("DORA"), Regulation (EU) 2022/2554, represents a pivotal step in strengthening the digital operational resilience framework for financial entities across the European Union. This regulation addresses gaps and inconsistencies of existing legal acts in terms of information and communications technology ("ICT") risk management and complements other recent EU cybersecurity laws (see our previous Alerts on the NIS 2 Directive and the Cyber Resilience Act).

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