The American Chamber of Commerce in Luxembourg, in collaboration with Baker McKenzie Luxembourg, hosted the first ABAL lunch of 2024.

Jean-François Trapp, partner, and Ana Vazquez, director, addressed in detail the requirements of Regulation (EU) 2022/2254 of 14 December 2022
on Digital Operational Resilience (DORA), its importance for the financial sector and the keys to implementing it.

In the context of the ever-increasing risk of cyberattacks, DORA is a legislative measure that consolidates and updates information and communication technology (ICT) risk management and cyber risk in financial services. The speakers discussed:

• The new European digital resilience regulation and its impacts on EU financial sector
• What internal measures and processes requires the EU from the financial sector in order to comply with DORA?
• What is the implementation period?

Baker McKenzie experts answered all these questions and analyzed in detail the main requirements of DORA and the impacts that it will have on the financial sector, with the aim of assisting the affected entities in their transition toward cyber resilience.