FIA, EACH, FESE, and AFME have published a joint statement outlining their views on the potential treatment of EU and non-EU regulated financial services under the Digital Operational Resilience Act (DORA).
The associations, and many EU and non-EU financial firms more broadly, are deeply concerned about the potential impacts on implementation and compliance, supervision and oversight, and broader anti-competitive effects on the market.
In light of the European Commission’s upcoming guidance on whether regulated financial services fall within scope of the definition of ‘ICT services’ under DORA, the associations strongly urge the Commission to clarify that financial services provided by EU and non-EU firms to financial entities are not considered ‘ICT services’ under DORA.
The associations remain committed to working with the Commission to support DORA’s goals while safeguarding financial services.
Read the statement here.
