What is NIS2 & DORA all about?

The Digital Operational Resilience Act (DORA) is a European framework that forces Financial Markets to provide their digital capabilities with the highest degree of robustness and resilience. The primary objective of the framework is to ensure that companies maintain financial stability and can withstand severe operational disruptions caused by cyber security and information and communication technology (ICT) issues. DORA aims to introduce a consistent supervisory approach across relevant sectors to guarantee that security and resilience practices are uniform and harmonised among all European Union (EU) firms.

The NIS2 Directive is a piece of legislation from the European Union that imposes more stringent cybersecurity obligations on entities operating in critical infrastructure and essential sectors. In 2023, the EU updated its cybersecurity rules with the NIS2 Directive to keep up with evolving threats and digitisation. This expansion broadened the scope to include more sectors and improved incident response and resilience against attacks.