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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Neil Hodge2024-08-05T13:01:00
Legislation set to take effect next year will require financial services firms operating in the European Union to implement stronger measures to protect not only themselves from disruption caused by cyberattacks but also the sector as a whole.
The EU’s Digital Operational Resilience Act (DORA), which will be fully enforced on January 17, 2025, aims to address the increasing reliance of banks, insurers, and other firms on information and communication technology (ICT) systems and third-party IT providers. It seeks to ensure that the financial sector is better equipped to withstand and recover from operational disruptions caused by IT and cyber-related incidents.
The legislation also places significant focus on the large, “critical” tech firms upon which the sector depends, imposing more stringent compliance and regulatory requirements to ensure these firms can handle cyber-related risks and maintain the outsourced services provided to financial firms.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
Register for free
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2024-06-18T14:00:00Z Provided by ProcessUnity
This presentation will provide an overview of the key provisions of DORA and their implications for Third-Party Risk Management (TPRM) teams, list best practices for DORA preparation and review key considerations for teams looking to implement the DORA framework.
2024-02-27T14:00:00Z Provided by Hitachi Vantara and Veritas
Join us for an in-depth discussion on proven strategies, advanced technologies, and industry best practices that form the bedrock of operational resilience.
2020-08-11T16:35:00Z By Jaclyn Jaeger
The Basel Committee on Banking Supervision is seeking comment from the financial services industry on its proposed principles for operational resilience that aim to enhance banks’ ability to withstand, adapt to, and recover from potentially severe adverse events.
2024-08-08T20:34:00Z By Ruth Prickett
The U.K. government has signaled new rules for pension trustees and funds consolidation to boost investment, but questions remain on employee financial literacy.
2024-08-07T20:36:00Z By Adrianne Appel
A joint proposal from nine U.S. financial regulators on data standards aim to streamline submissions and ease data sharing among agencies, the Securities and Exchange Commission announced.
2024-07-30T19:11:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority is asking for input on which of its existing rules for financial services overlap with the year-old consumer duty rule, with an eye toward streamlining and simplifying both rule packages.
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