Dora ‘critical tech vendor’ designation could cast a wide net
Experts think cloud services, data providers and software firms are all in regulators’ sights.
A European Union consultation setting out the criteria for identifying a critical third-party tech vendor under the Digital Operational Resilience Act (Dora) could catch cloud services, data vendors and software providers, according to operational risk experts and lawyers.
“Lots of companies might be ensnared by this, especially in the IT space. How far will it go?” says the head of risk at a European bank. “The list of maybes is long.”
Bradley Rice, partner at law firm Ashurst, says Dora
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