On 24 September 2020, the European Commission published a proposal for a new regulation – the Digital Operational Resilience Act (“DORA”) – and an accompanying directive to harmonise digital operational resilience rules for financial organisations in the EU.
Digital operational resilience
Digital operational resilience is the ability to build, assure and review the technological operational integrity of an organisation by ensuring that the organisation can support the continued provision of services and their quality in the face of operational disruptions affecting its information and communication technologies (“ICT”) capabilities.
Examples of disruptions affecting ICT capabilities include, for example, cyber-attacks and other incidents, technological failures, as well as other malicious and non-malicious events.