• Provisional Agreement reached on DORA

    DORA introduces a series of Regulatory and Implementing Technical Standards and Guidelines

Provisional Agreement reached on DORA

29 July 2022

DORA is expected to come into force in Q1 2023 and to be fully applicable by Q1 2025 following a two-year implementation period.

The MFSA issued a circular to regulated entities informing that on 23 July 2022 a provisional agreement on the DORA (Digital Operational Resilience Act) has been reached and the Regulation is now expected to go through a process of voting and adoption.

The Regulation introduces a series of Regulatory and Implementing Technical Standards, including Guidelines.

DORA introduces provisions – subject to different layers of proportionality – on financial entities in the areas of ICT risk management framework, ICT-related incidents, digital operational resilience testing (including advanced testing) managing of risk associated with the use of ICT-third party providers, EU-level oversight framework of critical ICT-third party providers and an optional provision on information sharing between financial entities.

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