OryxAlign reposted this
DORA - The Digital Operational Resilience Act, is an EU wide regulation that comes into effect across the UK from the 17th of January. It combines a lot of the requirements relating to cyber security that are currently contained within numerous pieces of law, regulations and supervisory practices. The aim is to reduce complexity and confusion, and to set out what is expected of the financial sector. This is to be policed with much greater diligence than existing disparate regulations, as it covers ICT risk management & incident reporting, digital operational resilience, and ICT third-party risk and information sharing. Whilst it's nothing new for the sector, DORA carries heavier penalties than existing legislature - failure to comply can reach 2% of an entity’s annual worldwide turnover, or €1,000,000 for an individual - so there's certainly incentive for IT Managers and Financial Directors to do something about it. As an MSP aligned with NIST and employing a SNOC (Security / Network Operations Center) - OryxAlign are DORA compliant and eager to hear from SMEs that are interested in taking immediate action. Let me know if we can help via david.burton@oryxalign.com OryxAlign #dora #finance #ict #riskmanagement