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EU DORA Del Reg - CTPP designation criteria

Sets out the critera to be used to assess whether an ICT third-party service provider is critical for financial entities. Utilizes a two-step test to identify those providers who are most critical.

Rule Overview

Jurisdiction: European Union

Regulator: ESMA

Topic: Resilience

Overview
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The assessment is to be targeted at the individual or group level as appropriate with subcontractors also evaluated.

The assessment criteria include:

  • Systemic impact on stability, continuity or qualify of the provision of financial services
  • Systemic character and importance of the ICT services
  • Criticality or importance of the functions
  • Degree of substitutability
Notable
DORA regulation outlining process for identifying critical ICT third-parties published

DORA regulation outlining process for identifying critical ICT third-parties published

It implements the specific assessment approach to be used by supervisory authorities and outlines fees payable by vendors designated as critical.

Thomas Hyrkiel2 min read

Your DORA questions answered – CIFs

Your DORA questions answered – CIFs

This third of a series of six articles covering a practical session organised by Ashurst focuses on critical or important functions.

Thomas Hyrkiel4 min read

Managing vendors supporting critical or important functions - from zero to full compliance with DORA

Managing vendors supporting critical or important functions - from zero to full compliance with DORA

A summary of key practical steps based on the draft technical standard.

Thomas Hyrkiel, Katarzyna Parchimowicz5 min read

Technology

DORA regulation outlining process for identifying critical ICT third-parties published

Technology

Your DORA questions answered – CIFs

Technology

Managing vendors supporting critical or important functions - from zero to full compliance with DORA

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