The publication of the proposal for the Digital Operational Resilience Act (DORA) in September 2020 has been a clear signal for the financial services industry that the topic of digital operational resilience will be a key focus area of EU regulators in the years to come. Aiming to bring sector specific requirements onto a higher legislative footing, DORA would create a harmonized regulatory framework for the management of Information and communications technology (ICT) risks, including for asset management companies operating under the UCITS and AIFMD framework.
Nevertheless, what impact DORA will have on existing national ICT-related requirements applicable to asset managers, what compliance challenges asset management firms will face (especially when it comes to relations with third party service providers), and how the requirements compare to the post-Brexit operational framework in the UK are just some of many questions that are still to be answered.
Dr. Verena Ritter-Döring, Clare Reynolds and Miroslav Djuric LL.M. from Frankfurt and London offices of Taylor Wessing will provide an overview of proposed regulatory requirements and will address some relevant practical challenges that EU-based asset managers may face in the process of bringing their business in line with the forthcoming EU regulatory framework on digital operational resilience.
Please join us for this event in cooperation with BVI (Competence Centre for the German investement fund industry). The event is free of charge and will be held in English language