The European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) have announced that they will launch a voluntary dry run exercise in May to help financial entities prepare for the development of information registers for DORA compliance.
Under the Digital Operational Resilience Act (DORA) from 2025 financial entities will have to maintain registers of information regarding their use of ICT third-party providers. In the dry run exercise, this information will be collected from financial entities through their competent authorities and will serve as preparation for the implementation and reporting of registers of information under DORA.
Financial entities participating in the dry run will receive support from the ESAs to:
- Build their register of information in the format as close as possible to the steady-state reporting from 2025,
- Test the reporting process,
- Address data quality issues, and
- Improve internal processes and quality of their registers of information.
To provide more information regarding the dry run exercise, the ESAs are inviting financial entities to take part in an introductory virtual workshop on 30 April 2024 from 10:00 to 12:00.
