Partner Daniel Alexie recently released the attached article, with regards to a recent European level adopted regulation, aiming to achieve a high level of digital operational resilience for regulated financial entities. Such entities include credit institutions, payment institutions, account information service providers, electronic money institutions, investment firms and crypto-assets service providers, just to name a few.

In order to comply with the DORA requirements by the time the same shall apply (starting with January 17, 2025), Financial Entities and ICT Third Party Service Providers will arguably require to assess (preferably together) currently used ICT systems, perform gap analysis and adjust contractual arrangements.

Further information regarding the “Digital Operational Resilience Act” or “DORA” is available in the attached article.