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DORA

The Digital Operational Resilience Act has applied since 17 January 2025 to almost every financial entity in the EU. It is the strictest of the three regimes, and the only one that writes penetration testing into law.

Who it catches

Banks, insurers and reinsurers, investment firms, brokers, payment and electronic money institutions, crypto-asset service providers, fund managers, audit firms and the ICT providers that serve them. Unlike NIS2 there is no comfortable size threshold to hide behind — a small payment institution is in scope. If you supply software or hosting to any of these, DORA reaches you through your customer's register of information whether or not you consider yourself a financial firm.

THE DATES

Where this stands today

  1. DORA applies in full

  2. First register of information due to supervisors

What it actually requires

  • An ICT risk-management framework with the management body accountable for it by name
  • Classification and reporting of major ICT incidents, on a clock measured in hours
  • Digital operational resilience testing, and threat-led penetration testing at least every three years for significant entities
  • A register of information listing every ICT third-party arrangement, submitted to the supervisor
  • Contractual terms with ICT providers that cover audit rights, exit and subcontracting
  • Participation in threat-intelligence sharing arrangements

What it costs to get wrong

Supervisors can inspect, order remediation and fine up to 2% of global annual turnover; critical ICT third-party providers face up to €5 million personally as an entity. In practice the sharper risk for a smaller firm is commercial rather than regulatory — a bank that cannot evidence your arrangements in its register has a straightforward reason to replace you.

Not sure whether DORA applies to you?

Tell us your sector, your headcount and what you sell. We will tell you which regimes catch you and what the first three things to do are — in writing, at no charge, because half the organisations that ask turn out not to be in scope and we would rather say so.

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