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DIGITAL OPERATIONAL RESILIENCE ACT (DORA)
As Data Security experts, we are here to help you navigate DORA
The Digital Operational Resilience Act (DORA) is a new European Union regulation, applicable for the Finance and Insurance Industries of EU nations. It is a set of standards and rules around ICT Risk Management. These sectors must comply with DORA in order to safeguard against crisis jeopardising financial markets across the EU. The legislation does not directly apply to the UK, however if a UK based company is engaged with, or seeks to engage with an EU-based company, then it’s very likely that you will need to comply to DORA. The deadline for compliance is January 2025.
THE COUNTDOWN IS ON...
Watch our on demand webinar:
NIS 2 and the Countdown to DORA
Please fill out the below form to watch the on demand webinar:
In the latest of our series of Compliance and Regulation webinars, join HANDD’s Lead Solutions Architect, Sam Malkin, who provides practical advice on how to meet the NIS 2 requirements, manage risks, and prepare your organisation for these critical changes.
Sam also covers the upcoming DORA deadline in January 2025, discussing its impact and what financial and non-financial institutions need to know to comply.
Key takeaways:
• Practical steps for complying with NIS 2 and DORA
• How NIS 2 and DORA align and differ in scope
• How HANDD have helped others and what our customers are doing to ensure compliance
DOWNLOAD GUIDE
INTRODUCTORY GUIDE TO THE DIGITAL OPERATIONAL RESILIENCE ACT
Understand how DORA will impact your organisation and what you need to do to achieve compliance – fill out your details below
WHO NEEDS TO COMPLY?
UNDERSTAND HOW YOU MIGHT BE EFFECTED
The Digital Operational Resilience Act (DORA) is a European Union Standard and is applicable for the Finance and Insurance Industries of EU nations. These sectors must comply with DORA in order to safeguard against crisis jeopardising financial markets across the European Union. The legislation does not directly apply to the UK, however if a UK based company is engaged with, or seeks to engage with an EU-based company, then it’s very likely that you will need to comply to DORA.
- Credit, payment and electronic money institutions
- Investment firms
- Crypto-asset service providers, issuers of crypto-assets and issuers of asset referenced tokens
- Central securities depositories and central counterparties
- Trading venues and trade repositories
- Managers of alternative investment funds
- Management companies
- Data reporting service providers
- Insurance and reinsurance undertakings, insurance intermediaries, reinsurance intermediaries and ancillary insurance intermediaries
- Institutions for occupational retirement pensions
- Credit rating agencies
- Statutory auditors and audit firms
- Administrators of critical benchmarks
- Crowdfunding service providers
- Securitisation repositories
- ICT third-party service providers
DORA FAQs
POPULAR QUESTIONS AROUND DORA EU
Planning for DORA, but feeling overwhelmed?
The HANDD Team have been supporting clients in the Banking, Finance and Insurance sectors for over 17 years. Partnering with our clients to navigate the complexities of cyber and data regulations – DORA is no exception. Get in touch, and let us help you prepare for DORA compliance in January 2025.
DORA TIMELINE
KEY DATES ON THE JOURNEY TOWARDS DORA COMPLIANCE
Our DORA experts have been on the journey since 2020, writing guides, hosting webinars and keeping up-to-date with all the releases and announcements. View the key dates below.
17th January – First set of Regulatory Technical Standards (RTS) released
HANDD hold ‘Year to go’ webinar discussing requirements as they stand
8th March – Joint consultation on second batch of policy mandates under the Digital Operational Resilience Act ends
17th July – Second set of Regulatory Technical Standards (RTS) released
18th July – HANDD host ‘July RTS and how it affects compliance’ webinar
23rd October – HANDD host ‘NIS 2 and the Countdown to DORA: Essential steps for compliance’ webinar
16th January – DORA comes into force
15th February – Malta Financial Authority releases its first video podcast introducing DORA
May – Call for advice on fees
13th June – Consultation Paper released on draft regulatory technical standards
8th December – Second batch of mandates released
10th November – The European Parliament vote in favour of the proposal for a regulation of the European Parliament and of the Council on Digital Operational Resilience for the financial sector
28th November – The European Council adopts DORA
15th February – Barclays writes a response to the European Commission highlighting someone anomalies and clarifications required/requested in the final draft. London Stock Exchange Group also provides a response to proposal
18th May – Electronic Money Association responds
19th March – The Commission carried out a dedicated open public consultation (19/12/2019 – 19/03/2020)
24th September – The European Commission published the draft DORA wording
19th December –Commission consults public via an impact assessment
MORE RESOURCES
BOOK A DISCOVERY CALL
The HANDD Team have been supporting clients in the Banking, Finance and Insurance sectors for over 17 years. Partnering with our clients to navigate the complexities of all types of cyber and data regulations – DORA is no exception. Book a call with our experienced team of cyber-risk and data security specialists, and let us help you prepare for DORA compliance in January 2025.
Request: Free 30-Minutes Discovery Call
DORA CONSULTANCY & SUPPORT
Request a Non-Obligation Discovery Call
Use the calendar to book a 30-minute discovery call with one of our experts.
Alternatively, get in touch at hello@handd.co.uk.
Planning for DORA, but feeling overwhelmed?
If you’re currently planning a DORA project but feeling overwhelmed by working out what changes might be required inside your organisation or perhaps struggling to interpret the documentation to identify the core requirements, then HANDD can help.
DORA Legislation Consultancy Services
HANDD Business Solutions (HANDD) brings 18 years of experience in compliance consulting, with over 60% of our clients in the finance sector. We offer services to help businesses navigate DORA legislation, ensuring full legal compliance while optimising operational efficiency. Find out more about our DORA Legislation Consultancy Services.
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