The European Union’s proposed Digital Operational Resilience Regulation (DORA) focuses on risks stemming from reliance on Information and Communication Technology (ICT), particularly any specific characteristics of digital resilience, with emphasis on concentration risk in ICT. A wide range of financial organisations are in DORA’s proposed scope, including financial entities and ICT third-party service providers. Governance, controls, testing, prevention, detecting, recovery (and regulatory penalties) are all features of DORA.
Listen to Henry Raschen, Director, Regulatory Outlook at HSBC’s Securities Services and Claire Harrop, Senior Associate in the Financial Institutions Group at Freshfields, discuss DORA’s content, progress and implications for financial firms now. You may also be interested in our previous DigiTalks episode with Henry and Claire focussing on MiCA.