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Risk Management Information Technology Financial Services Industry

Integreon

DORA Compliance Part 2: Addressing Compliance Across Critical Operational Areas

Integreon on

Introduction to DORA and its Implications - As of Jan.17, 2025, the European Union’s Digital Operational Resilience Act (DORA) became enforceable. This new regulatory framework significantly impacts financial institutions and...more

A&O Shearman

European Central Bank updates TIBER-EU framework to align with DORA RTS on TLPT

A&O Shearman on

The European Central Bank (ECB) has published an updated version of the threat intelligence-based ethical red teaming framework (TIBER-EU framework) (dated January) to align with the Digital Operational Resilience Act (DORA)...more

A&O Shearman

European Commission rejects draft technical standards on sub-contracting ICT services under Digital Operational Resilience Act

A&O Shearman on

The European Commission has published a letter (dated 21 January 2025) addressed to the Joint Committee of the European Supervisory Authorities (ESAs) rejecting certain draft regulatory technical standards (RTS) the ESAs...more

A&O Shearman

EU joint report on the feasibility for further centralization of reporting of major ICT-related incidents

A&O Shearman on

The European Supervisory Authorities have published a joint report on the feasibility of further centralization of the reporting of major ICT-related incidents by financial entities to competent authorities. The ESAs' joint...more

Mayer Brown

Cybersecurity in the Financial Sector: EU’s Digital Operational Resilience Act Takes Effect

Mayer Brown on

Beginning 17 January 2025, the Digital Operational Resilience Act (DORA) will apply to almost all EU financial entities, including banks, insurers and reinsurers, brokers , payment and electronic money institutions,...more

Goodwin

Entry into force of DORA on January 17, 2025: The CSSF will be at the heart of the compliance framework in Luxembourg

Goodwin on

Digital Operational Resilience Act (DORA) aims to harmonize provisions related to cybersecurity and information and communication technology (ICT) risk management in the financial sector. Its scope covers nearly all entities...more

Faegre Drinker Biddle & Reath LLP

EU Digital Operational Resilience Act Priorities for 2025

Background - The Digital Operational Resilience Act (DORA), a European Union (EU) regulation that is set to transform how financial entities and their information technology (IT) service providers manage operational risks,...more

Barnea Jaffa Lande & Co.

Understanding DORA: An Overview of the Digital Operational Resilience Act

The Digital Operational Resilience Act (DORA) is an EU regulatory framework, aimed at enhancing the financial sector’s ability to withstand and recover from ICT (information and communication technology) disruptions....more

Arnall Golden Gregory LLP

Preparing for the Digital Operational Resilience Act (“DORA”): Key Steps for Payments and Fintech Clients

The Digital Operational Resilience Act (“DORA”), an EU regulation designed to bolster the resilience of financial entities against Information and Communications Technology (“ICT”) risks, entered into force on January 16,...more

BCLP

The EU’s Digital Operational Resilience Act 2022/2554 (DORA)

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Long IT sub-contracting chains can make it hard for financial institutions to understand the vulnerabilities in their IT estate and the location of key functions (where these may be located in entities who do not have a...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 42: Beyond the Breach: The CISO’s Role as a Strategic Risk Manager

RegFi co-hosts Jerry Buckley and Sherry Safchuk welcome Orrick partner Aravind Swaminathan for a conversation exploring the critical and evolving role of the Chief Information Security Officer in today’s corporate landscape.....more

Akin Gump Strauss Hauer & Feld LLP

NYDFS Amended Cybersecurity Rules: Overview of Upcoming Deadlines

On November 1, 2023, the New York Department of Financial Services (NYDFS) announced the adoption of amendments to its Cybersecurity Regulation 23 NYCRR Part 500 (“Amended Cybersecurity Rules” or “Amended Rules”). NYDFS...more

Alston & Bird

What You Should Know About the EU Digital Operational Resilience Act

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The European Union’s (EU) new Digital Operational Resilience Act (DORA) will go into effect in January 2025. Our Privacy, Cyber & Data Strategy Team digs into DORA and discusses how the new law may impact businesses inside...more

Pillsbury - Global Sourcing Practice

Regulated Industries and AI Systems

Innovation has historically been driven by companies in regulated industries—e.g., financial services and health care—and some of the most intriguing use cases for generative AI systems will likely transform these industries....more

Baker Donelson

Banking in the Cloud: How Financial Institutions Can Mitigate the Regulatory and Security Risks

Baker Donelson on

As organizations in the financial sector continue to migrate IT and business services to the cloud and adopt other cloud offerings, it is important that financial institutions understand the risks associated with each. A U.S....more

Morgan Lewis - Tech & Sourcing

NYDFS Publishes Proposed Amendment to Its Cybersecurity Rules for Financial Services Companies

The New York Department of Financial Services (NYDFS) published its proposed amendment to its 23 NYCRR Part 500 (Cybersecurity Rules) on November 9, 2022, following the release of the draft version on July 29, 2022....more

Burr & Forman

FINRA Warns Against Russian-Sponsored Cyber Attacks

Burr & Forman on

In its April 27 Weekly Update, the Financial Industry Regulatory Authority’s (“FINRA”) National Cause and Financial Crimes Detection program urged FINRA member firms to review a cyber-threat alert arising from Russia’s...more

Polsinelli

Federal Banking Regulators Issue Rule Requiring 36 Hour Notice of Ransomware and Other Disruptive Cybersecurity Incidents

Polsinelli on

On November 18, 2021, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Office of the Comptroller of the Currency issued a joint final rule to require banking...more

Goodwin

FDIC Seeks Comment on Supervisory Approach to Examinations During Pandemic

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) is seeking information and comment regarding the FDIC’s supervisory approach to examinations during the pandemic; the FDIC’s tech lab, FIDTECH, announced a “tech...more

Perkins Coie

Fintech Legal Report - July 2021

Perkins Coie on

President Biden Issues an Executive Order on Competition with Implications for Financial Institutions - On July 9, 2021, President Biden issued an Executive Order on Promoting Competition in the American Economy. The...more

Mitratech Holdings, Inc

What Are Our GRC Experts’ Predictions for 2021?

If 2020 has a lesson for anyone, it is not to make any predictions. That said, predictions do offer people the chance to take stock and sense what the priorities are for the coming months, and where they need to focus their...more

Hogan Lovells

Operational resilience: Developments in the financial services sector in the UK

Hogan Lovells on

In recent years, operational resilience has come under the spotlight of financial regulators globally, leading to a proliferation of new regulation. The sheer number of publications on this topic can be confusing for...more

Mitratech Holdings, Inc

UK Finance Webinar Recap: Operational Resilience – Lessons Learnt from the Crisis

The Pandemic Crisis has offered the financial services sector a live stress test environment to assess its planning, systems, and processes for Operational Resilience. To explore this and see how institutions have fared so...more

Poyner Spruill LLP

New York Fires First Salvo Under Cybersecurity Law

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The New York Department of Financial Services (NYDFS) has launched its first enforcement action under New York’s Cybersecurity law for financial services, so-called Part 500. Part 500 requires NYDFS licensed institutions to...more

Mitratech Holdings, Inc

TRIM and Spreadsheet Risk Management

The Targeted Review of Internal Models (TRIM) is a planned part of the ongoing programme of regulatory enhancements forming part of the European Banking Authority’s (EBA) activities intended to enhance its visibility of the...more

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