DORA Voluntary Dry Run Exercise To Ensure Preparedness Ahead Of It Becoming Applicable

In its latest circular, the MFSA highlights the launch of a dry run ad hoc exercise by the European Supervisory Authorities (ESAs) and participating competent authorities such as the MFSA itself. This exercise, to be held over the latter half of 2024, is strategically designed to assist financial entities in familiarizing themselves with the requirements of DORA and to ensure they are well-prepared for its full implementation when it becomes applicable, that is 17 January 2025.

The DORA voluntary dry run exercise aims to provide financial entities with a proactive approach to assess their operational risk management practices. By participating in this exercise, financial entities can: