DORA Act: 5 Takeaways For The Financial Sector

This post was originally published on ZPE Systems

The Digital Operational Resilience Act (DORA) is a regulatory initiative within the European Union that aims to enhance the operational resilience of the financial sector. Its main goal is to prevent and mitigate cyber threats and operational disruptions. The DORA Act outlines regulatory requirements for the security of network and information systems “whereby all firms need to make sure they can withstand, respond to and recover from all types of ICT-related disruptions and threats” (DORA Act website).

Who and What Are Covered Under the DORA Act?

The DORA Act is a regulation that covers all financial entities within the European Union (EU). It recognizes the critical role of information and communication technology (ICT) systems in financial services. DORA applies to financial services including payments, securities, credit rating, algorithmic trading, lending, insurance, and back-office operations. It establishes a framework for ICT risk management through technical standards, which are being released in two phases, the first of which was published on January 17, 2024. The DORA Act will go into effect in its entirety on January 17, 2025.

With cyberattacks constantly in the news cycle, it’s no surprise that governing

Read the rest of this post, which was originally published on ZPE Systems.

Next Post

Distributed Edge Computing Use Cases