FESE fully supports the work of European regulators aimed at making Europe fit for the digital age and developing a harmonised regulatory regime. Exchanges play an important role in supporting the stability of the financial system and are taking several measures to build upon their cyber resilience to protect their systems.
We welcome the recent proposal, by the European Commission, for a Regulation on Digital Operational Resilience for the Financial Sector (DORA). We believe that the new regulatory framework should have:
- Clarity on compliance with other Regulations/Directives
- Flexible and proportionate measures
- Accessibility to third-party service providers
- Balanced measures for Cloud Services Providers
- Adequate testing and reporting requirements