Regulation / DORA Regulation
The European DORA regulation came into effect at the beginning of 2025, and is binding on all EU countries and has a significant impact on the European financial sector. It applies to financial entities (such as banks, insurance companies and investment funds) and to IT service-providers that are critical to the financial sector.
DORA aims to ensure that financial institutions in the EU are able to maintain smart and secure technological resilience by setting security standards for information and communications technologies. DORA also prescribes management and reporting obligations, including supervision of external technology service-providers, extensive commercial requirements, and preparations for incidents of technological disruptions or cyberattacks (including resilience tests).
DORA’s impact on Israeli companies
Israeli companies operating in the European market may be obligated to comply with DORA’s requirements, either directly as critical service-providers to financial institutions, or indirectly through contractual obligations with financial institutions in the European Union.
Our firm’s assistance to clients
Our firm’s international experience, coupled with the regulatory knowledge of the department’s partners, enables it to provide comprehensive assistance to clients in implementing the DORA requirements.
Our team’s assistance to financial institutions, fintech companies and service-providers includes advice on cyber risk management, on supervising external suppliers, on preparing for unexpected technological events, as well as the drafting of agreements. We also provide comprehensive legal advice in order to ensure compliance with the statutory requirements and the implementation of risk monitoring and control processes.
Our services in relation to DORA include:
- strategic advice and guidance to companies and organizations to ensure their compliance with DORA, and legal risk surveys;
- drafting agreements and appendices required pursuant to DORA;
- assistance with technology risk management, information security and privacy protection;
- assistance with methodologies for the supervision of external technology service-providers.
- the provision of a legal response to incidents of technological disruptions and cyberattacks.
Compliance with DORA is not only a regulatory obligation. It is an opportunity to strengthen trust, mitigate risks and achieve a competitive advantage in the European financial market. We are here to make sure that you are prepared for such compliance.
Regulation / DORA Regulation
The European DORA regulation came into effect at the beginning of 2025, and is binding on all EU countries and has a significant impact on the European financial sector. It applies to financial entities (such as banks, insurance companies and investment funds) and to IT service-providers that are critical to the financial sector.
DORA aims to ensure that financial institutions in the EU are able to maintain smart and secure technological resilience by setting security standards for information and communications technologies. DORA also prescribes management and reporting obligations, including supervision of external technology service-providers, extensive commercial requirements, and preparations for incidents of technological disruptions or cyberattacks (including resilience tests).
DORA’s impact on Israeli companies
Israeli companies operating in the European market may be obligated to comply with DORA’s requirements, either directly as critical service-providers to financial institutions, or indirectly through contractual obligations with financial institutions in the European Union.
Our firm’s assistance to clients
Our firm’s international experience, coupled with the regulatory knowledge of the department’s partners, enables it to provide comprehensive assistance to clients in implementing the DORA requirements.
Our team’s assistance to financial institutions, fintech companies and service-providers includes advice on cyber risk management, on supervising external suppliers, on preparing for unexpected technological events, as well as the drafting of agreements. We also provide comprehensive legal advice in order to ensure compliance with the statutory requirements and the implementation of risk monitoring and control processes.
Our services in relation to DORA include:
- strategic advice and guidance to companies and organizations to ensure their compliance with DORA, and legal risk surveys;
- drafting agreements and appendices required pursuant to DORA;
- assistance with technology risk management, information security and privacy protection;
- assistance with methodologies for the supervision of external technology service-providers.
- the provision of a legal response to incidents of technological disruptions and cyberattacks.
Compliance with DORA is not only a regulatory obligation. It is an opportunity to strengthen trust, mitigate risks and achieve a competitive advantage in the European financial market. We are here to make sure that you are prepared for such compliance.