Financial Markets and Funds Partner Nathaniel Lalone spoke with FinOps Report on the implications of Europe's upcoming Digital Operational Resilience Act (DORA) for US-based fund managers. DORA, effective January 17, 2025, mandates rigorous information, communication, and technology risk management programs for financial entities and their third-party service providers.
Nate stated, "DORA is unclear on the extraterritorial impact for European alternative fund management firms managed by US fund managers or for US alternative investment funds (AIFs) marketed to European investors. Depending on how European regulators interpret DORA, US managers of European AIFs or US AIFs marketed in Europe could be affected at some level."
He encouraged US-based fund managers to give voice to their concerns. "Engaging with peers in industry organizations on how to proceed could result in a community decision which could sway European regulators."
"Time for US-Based Fund Managers to Join DORA Bandwagon," FinOps Report, September 19, 2024
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