Abstract

The authorities of the European Union strive at regulating the issue of the management of risk associated with the use of new technologies by financial sector entiies. The planned regulation – the so-called DORA Regulation – is aimed at uniforming the risk management framework which has been so far specified in the specific acts for individual sectors, e.g. insurance, banking, investment sectors. Many duties arising from DORA already exist in the applicable legal system, though it is mainly a matter of soft law created by both European and Polish Supervisory Authorities. A novelty in the planned Regulation is that supervision will be extended not only to financial entities, but also ICT service providers classified as key operators.