Preparing financial entities for the entry into force of the DORA Regulation

Press release
DORA: Digital Operational Resilience Act

The financial sector is every more dependent on the smooth operation of IT infrastructure and services. Given the increasing risks as regards computer security and the growing number of cybercrime attacks, the European DORA (Digital Operational Resilience Act) Regulation sets out ambitious objectives as regards digital operational resilience. These objectives are intended to protect financial entities and their clients. They supplement existing legislation. A survey conducted by the Financial Services and Markets Authority (FSMA) shows that many financial entities have not yet taken all the measures necessary to prepare themselves for the entry into force of DORA. Those entities are asked to familiarize themselves with the provisions of that Regulation that apply to them, to determine what steps they have to take in order to gradually come into compliance with those provisions, and to take the necessary measures in a timely manner.

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