DORA – What’s Next and How Can I Prepare?
In this Video Data Security experts HANDD outline key dates
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DIGITAL OPERATIONAL RESILIENCE ACT (DORA)
Your guide to DORA EU, by Data Security & Compliance experts
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...
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UPCOMING WEBINAR - 18th JULY
DORA - July RTS and how it affects compliance
Join HANDD on 18th July to explore the latest Regulatory Technical Standards (RTS) released on July 17th.
During the webinar Sam Malkin, our Lead Solution Architect at HANDD and our resident DORA expert will dissect the July RTS to provide you with the key points and how it may affect your compliance to DORA.
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) to be released
18th July – HANDD will host ‘July RTS and how it affects compliance’ webinar
17th October – Third set of Regulatory Technical Standards (RTS) to be released
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
DORA and NIS2 – What Do I Need to Know?
Discover the connection between the NIS2 security directive and DORA in this clip from HANDD’s recent webinar. NIS2, the second iteration of the network and information security directive, set to be enforced from October 17th, focuses on bolstering resilience
What are the 5 pillars of DORA?
In this clip from a recent webinar, HANDD’s Lead Solutions Architect Sam Malkin highlights the key pillars of DORA, focusing on ICT risk management, incident reporting, and third-party management. Articles 15, 16.3, and 18.3 are explored, outlining processes, incident
DORA CONSULTANCY & SUPPORT
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.
DORA CONSULTANCY & SUPPORT
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 Readiness Consultancy
We provide dedicated DORA Readiness Consulting Service aimed at helping you meet DORA compliance. First, we identify where your current procedures or infrastructure may fall short against the legislations requirements and then our DORA consultants assist in defining a project to meet the criteria ahead of the January 2025 deadline.
Request a Non-Obligation Discovery Call
For more information on how we can help you prepare for, and achieve DORA compliance, request a call back – fill out our form and one of our experts will give you a call.