DORA Impacts For Fund Managers
The Digital Operational Resilience Act (DORA) applies to a wide
range of financial entities and is focused on ensuring that these
entities can respond effectively to unplanned information and
communication technology (ICT) disruption, while minimising the
impact on their business and customers. Further details can be
found here and here.
Stakeholders recognise that DORA compliance is an ongoing
commitment rather than a one-time task. It is envisaged that it
will become an integral part of firms' operational and IT risk
management processes, embedded within their risk frameworks over
the long term.
While the expectation is compliance from 17 January 2025,
regulators are aware that in certain areas of DORA requirements,
this may not be possible. For these areas firms must have sound,
realistic and timely plans to achieve compliance.
