The European Commision takes steps to enhance financial services’ digital operational resilience
The European Commission published its draft Digital Operational Resilience Act (DORA). The legislative proposal builds on existing information and communications technology (ICT) risk management requirements already developed by other EU institutions and ties together several recent EU initiatives into one Regulation.
This proposal is part of the Digital finance package, a package of measures to further enable and support the potential of digital finance in terms of innovation and competition while mitigating the risks arising from it.
This article provides further insight on the most important aspects of the new act.