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Navigating IT and Security Risks in Fintechs in Light of Impending DORA Deadline
Manage episode 454972687 series 3555902
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With regulators increasingly scrutinizing IT and security risks for fintechs, host Joseph Kamyar invites Skadden colleague Susanne Werry for a discussion about the EU’s Digital Operational Resilience Act (DORA), which becomes effective next month.
The act is expected to compel financial entities and relevant technology providers to reexamine existing contracts, policies, procedures and governance arrangements. Susanne, Frankfurt-based counsel in the Cybersecurity and Data Privacy and Artificial Intelligence Groups, offers important takeaways as 2025 draws near. While some companies are well on the way to DORA compliance, she notes, others are in the early stages.
💡 Meet Your Host 💡
Name: Joseph Kamyar
Title: European Counsel, Corporate at Skadden
Specialty: “Fintech Focus” host and European counsel Joseph Kamyar advises on a wide variety of corporate transactions, including cross-border private mergers and acquisitions, fundraisings, joint ventures, corporate reorganizations and general corporate matters, with a particular focus on the financial services, technology and media sectors.
💡 Featured Guest 💡
Name: Susanne Werry
What she does: Susanne Werry has extensive experience advising international and domestic clients on issues relating to cybersecurity, data privacy and artificial intelligence. Her work includes counseling multinational clients on strategic projects, crisis management, regulatory compliance and M&A transactions.
Organization: Skadden
Words of wisdom: “Some clients and lots of third-party providers in the markets are drawing up their DORA supplements to their contracts to address the stringent requirements and also to provide their customers with DORA packages, including information that the financial entities will request as part of their own extensive due diligence applications.”
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Fintech Focus is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.
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