DORA

Preamble (Recitals 1 – 106)

Recitals

Chapter I (Articles 1 – 4)

General provisions

Article 1

Subject matter

Article 2

Scope

Article 3

Definitions

Article 4

Proportionality principle

Chapter II (Articles 5 – 16)

ICT risk management

Section I

Article 5

Governance and organisation

Section II

Article 6

ICT risk management framework

Article 7

ICT systems, protocols and tools

Article 8

Identification

Article 9

Protection and prevention

Article 10

Detection

Article 11

Response and recovery

Article 12

Backup policies and procedures, restoration and recovery procedures and methods

Article 13

Learning and evolving

Article 14

Communication

Article 15

Further harmonisation of ICT risk management tools, methods, processes and policies

Article 16

Simplified ICT risk management framework

Chapter III (Articles 17 – 23)

ICT-related incident management, classification and reporting

Article 17

ICT-related incident management process

Article 18

Classification of ICT-related incidents and cyber threats

Article 19

Reporting of major ICT-related incidents and voluntary notification of significant cyber threats

Article 20

Harmonisation of reporting content and templates

Article 21

Centralisation of reporting of major ICT-related incidents

Article 22

Supervisory feedback

Article 23

Operational or security payment-related incidents concerning credit institutions, payment institutions, account information service providers, and electronic money institutions

Chapter IV (Articles 24 – 27)

Digital operational resilience testing

Article 24

General requirements for the performance of digital operational resilience testing

Article 25

Testing of ICT tools and systems

Article 26

Advanced testing of ICT tools, systems and processes based on TLPT

Article 27

Requirements for testers for the carrying out of TLPT

Chapter V (Articles 28 – 44)

Managing of ICT third-party risk

Section I

Key principles for a sound management of ICT third-party risk

Article 28

General principles

Article 29

Preliminary assessment of ICT concentration risk at entity level

Article 30

Key contractual provisions

Section II

Oversight framework of critical ICT third-party service providers

Article 31

Designation of critical ICT third-party service providers

Article 32

Structure of the Oversight Framework

Article 33

Tasks of the Lead Overseer

Article 34

Operational coordination between Lead Overseers

Article 35

Powers of the Lead Overseer

Article 36

Exercise of the powers of the Lead Overseer outside the Union

Article 37

Request for information

Article 38

General investigations

Article 39

Inspections

Article 40

Ongoing oversight

Article 41

Harmonisation of conditions enabling the conduct of the oversight activities

Article 42

Follow-up by competent authorities

Article 43

Oversight fees

Article 44

International cooperation

Chapter VI (Article 45)

Information-sharing arrangements

Article 45

Information-sharing arrangements on cyber threat information and intelligence

Chapter VII (Articles 46 – 56)

Competent authorities

Article 46

Competent authorities

Article 47

Cooperation with structures and authorities established by Directive (EU) 2022/2555

Article 48

Cooperation between authorities

Article 49

Financial cross-sector exercises, communication and cooperation

Article 50

Administrative penalties and remedial measures

Article 51

Exercise of the power to impose administrative penalties and remedial measures

Article 52

Criminal penalties

Article 53

Notification duties

Article 54

Publication of administrative penalties

Article 55

Professional secrecy

Article 56

Data Protection

Chapter VIII (Article 57)

Delegated acts

Article 57

Exercise of the delegation

Chapter IX (Articles 58 – 64)

Transitional and final provisions

Section I

Article 58

Review clause

Section II

Amendments

Article 59

Amendments to Regulation (EC) No 1060/2009

Article 60

Amendments to Regulation (EU) No 648/2012

Article 61

Amendments to Regulation (EU) No 909/2014

Article 62

Amendments to Regulation (EU) No 600/2014

Article 63

Amendment to Regulation (EU) 2016/1011

Article 64

Entry into force and application

Article 18 Classification of ICT-related incidents and cyber threats

TL;DR The Digital Operations Resilience Act from the EU requires financial entities to classify ICT-related incidents and cyber threats based on criteria such as the number of affected clients, the amount or number of transactions affected, the duration of the incident and the data losses that the incident entails. The European Supervisory Authorities (ESAs) have been tasked to develop common draft regulatory technical standards further specifying the criteria that financial entity should use for classification and assessment of relevance. The ESAs must take into account criteria and international standards developed by ENISA and must consider the needs of microenterprises, small and medium-sized enterprises. The ESAs must submit the common draft regulatory technical standards to the Commission by 17 January 2024, with the Commission delegated the power to supplement the Regulation.

  1. Financial entitiesas defined in Article 2, points (a) to (t) shall classify ICT-related incidentsmeans a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity; and shall determine their impact based on the following criteria:

    1. the number and/or relevance of clients or financial counterparts affected and, where applicable, the amount or number of transactions affected by the ICT-related incidentmeans a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity;, and whether the ICT-related incidentmeans a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity; has caused reputational impact;

    2. the duration of the ICT-related incidentmeans a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity;, including the service downtime;

    3. the geographical spread with regard to the areas affected by the ICT-related incidentmeans a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity;, particularly if it affects more than two Member States;

    4. the data losses that the ICT-related incidentmeans a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity; entails, in relation to availability, authenticity, integrity or confidentiality of data;

    5. the criticality of the services affected, including the financial entity’s transactions and operations;

    6. the economic impact, in particular direct and indirect costs and losses, of the ICT-related incidentmeans a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity; in both absolute and relative terms.

    RTS Paragraph is expanded on in a regulatory technical standard.

  2. Financial entitiesas defined in Article 2, points (a) to (t) shall classify cyber threatsmeans ‘cyber threat’ as defined in Article 2, point (8), of Regulation (EU) 2019/881; as significant based on the criticality of the services at risk, including the financial entity’s transactions and operations, number and/or relevance of clients or financial counterparts targeted and the geographical spread of the areas at risk.

    RTS Paragraph is expanded on in a regulatory technical standard.

  3. The ESAsEuropean Supervisory Authority shall, through the Joint Committeemeans the committee referred to in Article 54 of Regulations (EU) No 1093/2010, (EU) No 1094/2010 and (EU) No 1095/2010; and in consultation with the ECB and ENISA, develop common draft regulatory technical standards further specifying the following:

    1. the criteria set out in paragraph 1, including materiality thresholds for determining major ICT-related incidentsmeans an ICT-related incident that has a high adverse impact on the network and information systems that support critical or important functions of the financial entity; or, as applicable, major operational or security payment-related incidentsmeans an operational or security payment-related incident that has a high adverse impact on the payment-related services provided;, that are subject to the reporting obligation laid down in Article 19(1);

    2. the criteria to be applied by competent authoritiesas defined in Article 46 for the purpose of assessing the relevance of major ICT-related incidentsmeans an ICT-related incident that has a high adverse impact on the network and information systems that support critical or important functions of the financial entity; or, as applicable, major operational or security payment-related incidentsmeans an operational or security payment-related incident that has a high adverse impact on the payment-related services provided;, to relevant competent authoritiesas defined in Article 46 in other Member States’, and the details of reports of major ICT-related incidentsmeans an ICT-related incident that has a high adverse impact on the network and information systems that support critical or important functions of the financial entity; or, as applicable, major operational or security payment-related incidentsmeans an operational or security payment-related incident that has a high adverse impact on the payment-related services provided;, to be shared with other competent authoritiesas defined in Article 46 pursuant to Article 19(6) and (7);

    3. the criteria set out in paragraph 2 of this Article, including high materiality thresholds for determining significant cyber threatsmeans a cyber threat the technical characteristics of which indicate that it could have the potential to result in a major ICT-related incident or a major operational or security payment-related incident;.

    proportionality Paragraph allows for application of the proportionality principle according to Article 4.

  4. When developing the common draft regulatory technical standards referred to in paragraph 3 of this Article, the ESAsEuropean Supervisory Authority shall take into account the criteria set out in Article 4(2), as well as international standards, guidance and specifications developed and published by ENISA, including, where appropriate, specifications for other economic sectors. For the purposes of applying the criteria set out in Article 4(2), the ESAsEuropean Supervisory Authority shall duly consider the need for microenterprisesmeans a financial entity, other than a trading venue, a central counterparty, a trade repository or a central securities depository, which employs fewer than 10 persons and has an annual turnover and/or annual balance sheet total that does not exceed EUR 2 million; and small and medium-sized enterprisesmeans a financial entity that is not a small enterprise and employs fewer than 250 persons and has an annual turnover that does not exceed EUR 50 million and/or an annual balance sheet that does not exceed EUR 43 million; to mobilise sufficient resources and capabilities to ensure that ICT-related incidentsmeans a single event or a series of linked events unplanned by the financial entity that compromises the security of the network and information systems, and have an adverse impact on the availability, authenticity, integrity or confidentiality of data, or on the services provided by the financial entity; are managed swiftly.

    The ESAsEuropean Supervisory Authority shall submit those common draft regulatory technical standards to the Commission by 17 January 2024.

    Power is delegated to the Commission to supplement this Regulation by adopting the regulatory technical standards referred to in paragraph 3 in accordance with Articles 10 to 14 of Regulations (EU) No 1093/2010, (EU) No 1094/2010 and (EU) No 1095/2010.

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