European Union: Closed consultation on Draft Regulatory Technical Standards on specifying certain criteria and fees relating to critical ICT third-party service providers under DORA

On 14 December 2023, the European Commission closed its public consultation on the Draft Regulatory Technical Standards outlining specifying certain criteria and fees relating to critical ICT third-party service providers, as mandated by Article 31(6) of Regulation (EU) 2022/2554 (DORA). The Draft outlines the assessment approach and criteria for determining criticality, including systemic impact, importance to global systemically important institutions and critical functions. The Draft details the formulas, thresholds, and information sources for each criterion.