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DORA Q&A update 02

The purpose of this post is share the facts & links about DORA to community.

DORA act

  • Regulation (EU) 2022/2554 of the European Parliament and of the Council of 14 December 2022 on digital operational resilience for the financial sector and amending Regulations (EC) No 1060/2009, (EU) No 648/2012, (EU) No 600/2014, (EU) No 909/2014 and (EU) 2016/1011 (Text with EEA relevance)

RTS published and sent to the EU Commission – first batch on 17th of January 2024:

  • JC 2023 83 – RTS on criteria for the classification of ICT-related incidents
    • JC_2023_83_-_Final_Report_on_draft_RTS_on_classification_of_major_incidents_and_significant_cyber_threats.pdf
  • JC 2023 84 – RTS on the policy on ICT services supporting critical or important functions provided by ICT third-party service providers (Was replaced with JC(2024) 1531).
    • JC_2023_84_-_Final_report_on_draft_RTS_to_specify_the_policy_on_ICT_services_supporting_critical_or_important_functions.pdf
  • JC 2023 85 – Implementing Technical Standards (ITS) to establish the templates for the register of information
    • JC_2023_85_-_Final_report_on_draft_ITS_on_Register_of_Information.pdf
  • JC 2023 86 – RTS on ICT risk management framework and on simplified ICT risk management framework (Was replaced with JC(2024) 1532.)
    • JC_2023_86_-_Final_report_on_draft_RTS_on_ICT_Risk_Management_Framework_and_on_simplified_ICT_Risk_Management_Framework.pdf

Final Reports – draft RTS submitted to the European Commission on 17th July 2024:

Final Reports – draft RTS submitted to the European Commission on 26th July 2024:

  • JC 2024 53 – Final Report RTS .. to assess when subcontracting ICT services supporting critical or important functions
    • Draft Regulatory Technical Standards to specify the elements which a financial entity needs to determine and assess when subcontracting ICT services supporting critical or important functions as mandated by Article 30(5) of Regulation (EU) 2022/2554;
    • JC 2024-53_Final report DORA RTS on subcontracting.pdf

The set of guidelines include:

  • Guidelines on the estimation of aggregated costs/losses caused by major ICT-related incidents; and
    • JC 2024 34 Joint Guidelines on the estimation of aggregated annual costs and losses caused by major ICT-related incidents under Regulation (EU) 2022/2554. EBA site;
    • JC 2024 34 Joint Guidelines pdf
  • Guidelines on oversight cooperation.

https://www.eba.europa.eu/publications-and-media/press-releases/esas-published-second-batch-policy-products-under-dora

Update to DORA regulation – Supplementing Regulation (EU) 2022/2554:

Criteria for the designation of ICT third-party service providers as critical for financial entities

  • Commission Delegated Regulation (EU) 2024/1502 of 22 February 2024 supplementing Regulation (EU) 2022/2554 of the European Parliament and of the Council by specifying the criteria for the designation of ICT third-party service providers as critical for financial entities. (EU) 2024/1502.

Criteria for the classification of ICT-related incidents and cyber threats, setting out materiality thresholds and specifying the details of reports of major incidents