Ahead of the implementation Regulation (EU) 2022/2554 on digital operational resilience for the financial sector ('the DORA Regulation'), the MFSA issued a Consultation Document on 16 January 2024, whereby it invited stakeholders to provide their feedback with respect to the implementation of the DORA Regulation and the transposition of the DORA Amending Directive (EU) 2022/2556 until the 16 February 2024.
While the DORA Regulation sets out requirements concerning the security of network and information systems supporting the business processes of the financial entities within the sectors listed below. The DORA Amending Directive amends all applicable directives and sets out the changes required in terms of primary and secondary legislation, as well as the Rules issued by the MFSA, the competent authority. To this end, the Consultation Document lists the proposed amendments to existing directives relating to the following sectors:
- Financial Institutions
- Credit Institutions
- Regulated Markets and Market Operators
- Investment Services Providers
- Insurance
- Pensions
- Resolutions
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.