Digital Operation Resilience Act (DORA)

The EU Digital Operational Resilience Act (“DORA”) entered into force in January 16, 2023, setting forth security requirements for network and information systems of organizations operating in the financial sector;

Obligations under DORA are to be further detailed by Regulatory Technical Standards (“RTS”) and Implementing Technical Standards (“ITS”), aimed at harmonizing requirements and facilitating implementation;

On 24 September 2020, the European Commission published a proposal for a new regulation – the Digital Operational Resilience Act (“DORA”) – and an accompanying directive to harmonise digital operational resilience rules for financial organisations in the EU.

Digital operational resilience

Digital operational resilience is the ability to build, assure and review the