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Prudential Supervision & Risk

EU Parliament: final vote on DORA

Published on 16 November 2022

The ABBL highlights its work on proportionality in DORA, ensuring that smaller financial-sector players are not subject to the same burdens as larger institutions, and relaunches its DORA Task Force to monitor implementation, technical standards and advocacy.

Summary

    The European Parliament has supported the Digital operational resilience act (DORA). This European Council’s legislative act aims to strengthen regulations regarding ICT and cyber resilience at financial services firms. It is one of several EU cybersecurity laws and initiatives that are currently finalised as part of broader efforts to shape the EU’s digital strategy.

    Technical standards and guidelines detailing requirements will be drafted and adopted throughout 2023 and 2024, with varying deadlines.

    As a reminder, the ABBL was instrumental with regard to the question of proportionality in DORA, achievingthat smaller players are not subject to the same burdens and constraints as larger players.

    In this context, the ABBL is relaunching its Task Force “DORA” to proceed with monitoring and advocacy on the subject. This Task Force will report to ABBL’s Working Group Trust and Cybersecurity.

    Should you wish to take part in the Task Force, please send an email to ABBL Secretariat (secretariat@abbl.lu) with your name, position and expectations/questions for the TF.

     

     

    For more information:

    Ananda Kautz

    Ananda Kautz

    Member of the Management Board of the ABBL

    Published on 16 November 2022

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