The Digital Operational Resilience Act (DORA) is a binding and comprehensive framework for managing mainly digital risks in the financial sector. It came into force at the beginning of 2023 and entities must comply with it from 17 January 2025.
The new regulation brings changes to digital and operational resilience management and sets rules for financial institutions and their ICT (information and communication technology) service providers. We can help you through the entire process of implementing DORA requirements – from initial DORA compliance analysis to ICT risk management services.
Law of the Czech Republic
EFFECTIVE
2025
APPLIES TO
MAIN OBLIGATIONS
European Union Regulation
EFFECTIVE
APPLIES TO
MAIN OBLIGATIONS
International and cross-industry standard for Information Security Management System (ISMS)
EFFECTIVE
APPLIES TO
MAIN OBLIGATIONS
European standard, assessment and information exchange mechanism for the automotive industry
EFFECTIVE
APPLIES TO
MAIN OBLIGATIONS
DORA applies to a wide range of financial institutions, including banks, investment firms, insurance companies and cryptocurrency service providers. It brings several obligations, including senior management responsibility for ICT risk management, ICT incident reporting obligations, ICT risk management, digital operational resilience testing, risk management measures for ICT service providers and many more.
Entities affected by DORA include credit institutions, payment institutions, investment firms, insurance companies, credit rating agencies and others. A full list can be found here. In contrast, the regulation does not apply to alternative investment fund managers, insurance and reinsurance companies or insurance intermediaries. A full list of entities not covered by DORA can be found here.
DORA came into force at the beginning of 2023, but entities must comply with it from 17 January 2025.
In a digital era where we are constantly faced with cyber threats, DORA seeks to increase the digital resilience of financial institutions and their suppliers, who play an important role in the cybersecurity of the entire financial sector.
We can help you by practically preparing your company for the new DORA regulation. Our approach is client-centric, and we understand your unique needs, goals, and challenges. When working with a client we begin by assessing the current state of the company through a gap analysis. Our interest is to ensure that you have control of your company’s security risks and proactively manage them. We believe that together we can make the digital space Věříme, že společnými silami můžeme dosáhnout, aby digitální prostor byl safer, more ethical and more transparent.
