On 28 November 2022, the Council of the European Union adopted the Digital Operational Resilience Act (DORA).

Now that the DORA proposal is formally adopted, aspects that require national transposition will be passed into law by each EU Member State. At the same time, the relevant European Supervisory Authorities, such as the European Banking Authority, the European Securities and Markets Authority and the European Insurance and Occupational Pensions Authority, will develop technical standards for all financial services institutions to abide by, from banking to insurance to asset management. The respective Member State national competent authorities will take the role of compliance oversight and enforce the regulation as necessary.