§ DORA · Article 7
DORA Article 7: Obligations, Deadlines & Penalties
At a glance
Article 7 of the DORA imposes 4 obligations on financial entities.
§ Obligations
All obligations under Article 7
Obligation 1
Financial entities shall use and maintain updated ICT systems, protocols and tools that are appropriate to the magnitude of operations supporting the conduct of their activities, in accordance with the proportionality principle.
Regulation (EU) 2022/2554, Article 7, Article 7
- Obligated entity
-
financial entities
- Sector scope
- financial sector
- Action required
-
use and maintain
- Deadline
-
—
- Penalty
-
—
Obligation 2
Financial entities shall ensure that their ICT systems, protocols and tools are reliable.
Regulation (EU) 2022/2554, Article 7, Article 7
- Obligated entity
-
financial entities
- Sector scope
- financial sector
- Action required
-
ensure
- Deadline
-
—
- Penalty
-
—
Obligation 3
Financial entities shall equip their ICT systems, protocols and tools with sufficient capacity to accurately process necessary data, provide services timely, and deal with peak volumes, including when new technology is introduced.
Regulation (EU) 2022/2554, Article 7, Article 7
- Obligated entity
-
financial entities
- Sector scope
- financial sector
- Action required
-
equip
- Deadline
-
—
- Penalty
-
—
Obligation 4
Financial entities shall ensure their ICT systems, protocols and tools are technologically resilient to adequately deal with additional information processing needs under stressed market conditions or other adverse situations.
Regulation (EU) 2022/2554, Article 7, Article 7
- Obligated entity
-
financial entities
- Sector scope
- financial sector
- Action required
-
ensure
- Deadline
-
—
- Penalty
-
—
§ Frequently asked
Questions about Article 7
Who must comply with Article 7 of the DORA?
+
financial entities.
What does Article 7 of the DORA require?
+
use and maintain ensure equip