News 06/12/24

DORA: AFM will request register of information in February

The Dutch Authority for the Financial Markets (AFM) will request the register of information from companies soon after the Digital Operational Resilience Act (DORA) becomes applicable on 17 January 2025. National supervisors such as the AFM and DNB must submit the registers to the European supervisors (EBA, EIOPA and ESMA) in April 2025. This means that in February 2025, we will send an information request to all companies with an AFM licence that are subject to DORA.

In short

Submit the register of information to the AFM in a timely manner
The requirements for the register are available
Workshop by European regulators on 18 December

One of the requirements under DORA is that financial institutions must keep a register of all contractual agreements with ICT service providers. The European Supervisory Authorities recently announced the timelines for collecting the register of information.

Submit the information register to the AFM in a timely manner

We will send a request for information in February 2025 to all organisations that have an AFM licence and are subject to DORA. Before the information request is sent, companies will receive a message about the way in which we request them to provide the information and the response period. Companies are expected to send their entire register to us. This allows us to submit the registers to the European supervisors in a timely manner, which must be done by 30 April 2025 at the latest.

The requirements for the register are available

Recently, the European Commission adopted the additional regulations (the Implementing Technical Standards – ITS) for the register of information. With this adoption, the requirements for the register have been finalized. To ensure timely submission of the register of information, companies must already be working on its preparation. During the preparation process, it is important to verify that all mandatory fields are included in the register. If any fields are missing or incomplete, the register cannot be shared with the European supervisory authorities. In such cases, we will have to request the entire information register again.

Workshop by European regulators on 18 December

European regulators EBA, EIOPA and ESMA are organising an online workshop in which they will explain how firms can prepare the register of information. The workshop will also share the results of the ‘dry run’ that took place earlier this year, during which institutions could report their register as a test. The workshop will take place on 18 December 2024 from 10:00 to 13:00. Companies can register until 16 December.