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ARTICLE · 10 JANUARY 2025

Digital Operational Resilience Act (DORA)

Arthur Cox
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DORA is part of the European Commission's Digital Finance Strategy designed to uplift existing information communications technology ("ICT") risk management requirements for financial entities and to consolidate.

IrelandFinance and Banking
Ian Duffy
Ian Duffy
Sarah Thompson
Sarah Thompson
Robert Cain
Robert Cain
Ciara Anderson
Ciara Anderson
Ciaran Flynn
Ciaran Flynn
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DORA is part of the European Commission's Digital Finance Strategy designed to uplift existing information communications technology ("ICT") risk management requirements for financial entities and to consolidate these requirements into a single legislative instrument.

The Act comes into force on 17 January 2025 and applies to a wide range of financial entities, including credit institutions, electronic money institutions, investment firms, insurance undertakings and re-insurance undertakings. Importantly, DORA will also result in certain major ICT service providers formally coming within scope of supervision by the European Supervisory Authorities for the first time.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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