The Digital Operational Resilience Act (DORA), introduced by the European Union, establishes stringent requirements for ensuring the resilience and security of critical digital systems in the financial sector. At Rob Melton Law, we guide US service providers to regulated entities through the complexities of DORA compliance.
Understanding DORA
DORA sets the standard for cybersecurity and operational resilience across financial institutions and their third-party service providers. This regulation ensures that all parties—both regulated entities and their service providers—can withstand, respond to, and recover from digital disruptions and cyber threats.
Key provisions of DORA include:
- Risk Management: Establishing robust frameworks to identify, assess, and mitigate operational and cyber risks.
- ICT Incident Reporting: Requiring timely reporting of major incidents to reduce systemic vulnerabilities.
- Third-Party Oversight: Mandating enhanced scrutiny and oversight of external service providers to safeguard critical operations.
- Resilience Testing: Conducting regular testing to ensure operational continuity even in the face of disruptions.
Our Expertise in DORA Compliance
At Rob Melton Law, we understand the pivotal role service providers play in the operational ecosystems of regulated financial entities. Our team is committed to helping service providers:
- Understand Their Obligations: Gain clarity on how DORA applies to your services, contracts, and relationships with regulated entities.
- Develop Compliance Strategies: Design and implement tailored strategies to meet DORA’s requirements while aligning with your operational goals.
- Contractual Readiness: Ensure your agreements with regulated entities incorporate DORA-compliant terms and provisions.
- Prepare for Supervision: Navigate interactions with financial regulators and supervisory bodies with confidence.
Why Choose Rob Melton Law?
Our firm combines deep regulatory knowledge with industry-specific insights to deliver practical and actionable advice. Whether you’re navigating initial compliance or addressing complex challenges, we’re here to provide the guidance and support you need.