A sprawling Digital Finance Package, adopted by the European Commission this week, includes proposals for a new Europe-wide Digital Operational Resilience Act (DORA) — that would see regulators tighten up financial services sector IT incident reporting in a bid to reduce cybersecurity and operational risks; including via a standardised approach to monitoring, logging, and classifying “ICT-related” incidents, EU-wide. The Commission is even, it admits, considering establishing a “single EU Hub for major ICT-related incident reporting by financial entities”, and has requested a feasibility report on deploying this.

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