ARTICLE
10 January 2025

Digital Operational Resilience Act (DORA)

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Arthur Cox

Contributor

Arthur Cox is one of Ireland’s leading law firms. For almost 100 years, we have been at the forefront of developments in the legal profession in Ireland. Our practice encompasses all aspects of corporate and business law. The firm has offices in Dublin, Belfast, London, New York and Silicon Valley.
DORA is part of the European Commission's Digital Finance Strategy designed to uplift existing information communications technology ("ICT") risk management requirements for financial entities and to consolidate.
Ireland Finance and Banking

DORA is part of the European Commission's Digital Finance Strategy designed to uplift existing information communications technology ("ICT") risk management requirements for financial entities and to consolidate these requirements into a single legislative instrument.

The Act comes into force on 17 January 2025 and applies to a wide range of financial entities, including credit institutions, electronic money institutions, investment firms, insurance undertakings and re-insurance undertakings. Importantly, DORA will also result in certain major ICT service providers formally coming within scope of supervision by the European Supervisory Authorities for the first time.

Technical Standards

DORA will be supported by technical standards that provide regulatory guidance in respect of certain key areas under the Act and will be helpful for many organisations as they ramp up their DORA compliance projects in advance of the 17 January 2025 deadline. For the latest updates on DORA, Please visit our "Knowledge" section below.

DORA Toolkit

Our DORA Toolkit has a series of concise, practical, and easy to read guides and checklists to help Financial Entities implement the requirements introduced by DORA. It can be used to assess your current compliance status against DORA ahead of the 17 January 2025 deadline, and to highlight those areas where further work may be required. To read more about the toolkit, please click on the image below.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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