Article 53, Notification Duties, Digital Operational Resilience Act (DORA)

Jul 25, 2024by Sneha Naskar

Overview

Member States shall notify the laws, regulations and administrative provisions implementing this Chapter, including any relevant criminal law provisions, to the Commission, ESMA, the EBA and EIOPA by 17 January 2025. Member States shall notify the Commission, ESMA, the EBA and EIOPA without undue delay of any subsequent amendments thereto.

Article 53, Notification Duties, Digital Operational Resilience Act (DORA)

Summary Of Article 53

Article 53 of the Digital Operational Resilience Act (DORA) outlines the obligation of EU Member States to notify specific EU bodies about their implementation measures. By 17 January 2025, Member States must communicate to the European Commission, ESMA, EBA, and EIOPA the laws, regulations, and administrative provisions enacted under this chapter of DORA. These notifications must also include any related criminal law provisions.

Additionally, Member States are required to notify these authorities without undue delay about any amendments or updates to the measures initially reported. This ensures that all changes are promptly communicated, maintaining regulatory transparency and consistency.

The purpose of these notification duties is to ensure a harmonized application of DORA across all Member States. It facilitates the effective supervision and monitoring of the implementation of digital resilience measures, supporting the EU’s overarching goal of strengthening operational resilience in the financial sector. By fostering clear and timely communication, Article 53 helps establish a unified and robust regulatory framework within the European Union.