New EU regulation on digital operational resilience of financial institutions
DORA is the EU's flagship initiative on digital operational and cyber resilience in the financial services sector. The aim is to strengthen the resilience of institutions to the digital threats that will dynamically evolve and to minimise the vulnerability of business models. The Regulation therefore introduces a single set of regulatory and supervisory rules for operational resilience of information and communication technologies in the financial sector. Among other things, it requires financial institutions to invest significantly in improving their resilience to digital and cyber risks.