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EU DORA and Amending Directive—key requirements for financial entities, ICT risk governance, incident reporting, TLPT, third-party risk, oversight of critical ICT providers and implementation timeline

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Practice notes
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This Practice Note summarises the principal requirements of Regulation (EU) 2022/2554 (the Digital Operational Resilience Act, DORA) and Directive (EU) 2022/2556, which amends certain Directives regarding digital operational resilience for the financial sector (the Amending Directive).

What is DORA?

On 24 September 2020, the European Commission released proposals for a Regulation on digital operational resilience for the financial sector (the Digital Operational Resilience Act, DORA) and a Directive updating digital operational resilience obligations in Directives 2006/43/EC, 2009/65/EC, 2009/138/EU, 2011/61/EU, EU/2013/36, 2014/65/EU, (EU) 2015/2366 and EU/2016/2341 (the Amending Directive). These proposals formed part of the Commission’s Digital Finance Package. DORA is intended to consolidate and elevate information and communication technologies (ICT) risk requirements across the EU financial sector so that a very broad range of financial system participants are bound by a common suite of standards to mitigate ICT risks to their operations. In particular, DORA sets out requirements for dedicated ICT risk management capabilities, the reporting of major ICT-related incidents, digital operational resilience testing, management by financial entities of ICT third-party risk, and the sharing of information among financial entities. Furthermore, DORA reaches beyond the financial sector by introducing an EU oversight framework for critical ICT providers in the EU...

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Web page updated on 21/05/2026

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