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Topic: Digital operational resilience in financial services dora

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ESAs consult on second package of DORA technical standards

December 19, 2023

On 8 December 2023 the European Supervisory Authorities (ESAs) launched public consultation on a second package of technical standards under Digital Operational Resilience Act (DORA). This includes the following draft regulatory technical standards (RTS), implementing technical standards (ITS) and guidelines.

AFM: Getting ready for DORA: Managing ICT risk for third-party providers

December 06, 2023

On 1 December 2023, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published its second publication on the Digital Operational Resilience Act (Regulation (EU) 2022/2554, the DORA). The publication focuses on the management of information, communication and technology (ICT) risks for third-party providers and aims to enable in-scope financial institutions to analyse their current readiness with DORA in these areas and assess what further steps they need to take to comply.

ESAs consult on first part of DORA RTS & ITS

June 29, 2023

On 19 June 2023 the European Supervisory Authorities (ESAs) launched a public consultation on a first batch of regulatory and implementing technical standards (RTS and ITS) under Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA). This covers the draft RTS and ITS that the ESAs are expected to submit to the European Commission by 17 January 2024.

ESAs consult on DORA criticality criteria

June 08, 2023

On 26 May 2023, the European Supervisory Authorities (ESAs) published a joint Discussion Paper on criteria for critical ICT third-party service providers and oversight fees. This Discussion Paper follows the request for technical advice that was sent by the European Commission (Commission) to the ESAs in late December 2022.

AFM calls on trading platforms and proprietary traders to timely prepare for DORA

March 09, 2023

On 1 March 2023, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published the results of an exploratory investigation into IT incident management in the capital markets. The AFM carried out this study in relation to eight trading venue operators and proprietary traders based on a self-assessment and IT incident notifications reported to the AFM.

ESAs hold public hearing on DORA, announce upcoming consultations

February 16, 2023

On 6 February 2023 the three European Supervisory Authorities (ESAs) held a joint public hearing on the implementation of Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (“Digital Operational Resilience Act” or DORA). As per a follow up press release, the event – held online – gathered over 2,000 representatives from credit and payment institutions, investment firms, (re)insurance undertakings, ICT third-party service providers and other financial entities. The focus of the joint hearing was to provide an opportunity for industry participants to engage with regulators on the new legislation, share their initial views and raise any potential areas of concern regarding the policy mandates that the ESAs have to develop over the course of 2023 and 2024.

DORA: Digital Operational Resilience Act

February 02, 2023

On December 27, 2022, the European Regulation on digital operational resilience for the financial sector was published. It entered into force on January 17, 2023 and will apply as of January 17, 2025.

New briefing note: Digital Operational Resilience for the Financial Sector (DORA): 10 things to know

January 18, 2023

On 16 January 2023, the Regulation on digital operational resilience for the financial sector (DORA) entered into force.

DORA published in the OJ

January 12, 2023

On 27 December 2022, there was published in the Official Journal of the European Union (OJ)

European Commission asks ESAs for technical advice on DORA

January 12, 2023

On 4 January 2023 the European Banking Authority (EBA) published a letter from the European Commission (“the Commission”) to the European Supervisory Authorities (ESAs) requesting advice on designation criteria and fees for the oversight framework for critical third-party service providers set out under Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA). Together with the letter, the EBA published the content of the Call for Technical Advice, which sets out in more detail the scope of the advice requested by the Commission. As per the mandate set out in DORA, the ESAs are requested to deliver technical advice on two delegated acts.