Jurisdiction(s):
European Union

DORA: EU oversight of critical ICT service providers for financial entities—designation criteria, Lead Overseer powers and indirect enforcement

Published by a LexisNexis EU Law expert

Practice notes

Use this FLASHCARD to grasp and remember the key points of the oversight framework for critical ICT providers, including cloud computing service providers, established by Regulation (EU) 2022/2554, the Digital Operational Resilience Act (DORA).

What are critical ICT service providers?

Within DORA, the European Supervisory Authorities (ESAs — ESMA, EBA and EIOPA) may designate ICT service providers as ‘critical’ for the purposes of DORA by reference to a blend of quantitative and qualitative criteria:

the potential systemic effect on the stability, continuity or quality of financial services if the provider were to suffer a large‑scale operational outage or failure to deliver its services, taking into account how many financial entities it supports and the overall asset values of those entities
the systemic nature or significance of the dependent financial entities, assessed by reference to how many global systemically important institutions (G‑SIIs) or other systemically important institutions (O‑SIIs) rely on the provider, and also the degree of interdependence between those G‑SIIs or O‑SIIs and other financial entities
the dependence of financial entities on the...

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Web page updated on 21/05/2026

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