ESAs hold public hearing on DORA, announce upcoming consultations
On 6 February 2023 the three European Supervisory Authorities (ESAs) held a joint public hearing on the implementation of Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (“Digital Operational Resilience Act” or DORA). As per a follow up press release, the event – held online – gathered over 2,000 representatives from credit and payment institutions, investment firms, (re)insurance undertakings, ICT third-party service providers and other financial entities. The focus of the joint hearing was to provide an opportunity for industry participants to engage with regulators on the new legislation, share their initial views and raise any potential areas of concern regarding the policy mandates that the ESAs have to develop over the course of 2023 and 2024.