DORA consultancy - helping financial institutes across the UK and Europe.

Luis Quintero, Pink and Blue Abstract


Information sharing

One of the significant challenges that the EU regulators are trying to address is information sharing (Article 40).
Historically, most financial organisations were reluctant to share any information about incidents, especially security related, as they were concerned about market impact and uncertainty over compatibility with data protection, anti-trust and liability rules.
DORA aims to raise awareness of ICT risk, minimise its spread, and support financial entities’ defensive capabilities and threat detection techniques. The regulation encourages financial entities to set up arrangements to exchange cyber threat information and intelligence amongst themselves in a secure trusted environment.
With ICT threats becoming more complex and sophisticated, sound detection and prevention measures depend greatly on regular threats and vulnerability intelligence sharing between financial entities. Information sharing contributes to increased awareness of cyber threats, which, in turn, enhances financial entity’s capacity to prevent threats from materialising into actual incidents and enables financial entities to contain the effects of ICT-related incidents better and recover more efficiently.

Financial entities should therefore be encouraged to collectively leverage their individual knowledge and practical experience at strategic, tactical and operational levels to enhance their capabilities to adequately assess, monitor, defend against, and respond to, cyber threats. It is thus necessary to enable the emergence at the Union level of mechanisms for voluntary information-sharing arrangements, which, when conducted in trusted environments, would help the financial community to prevent and collectively respond to threats by quickly limiting the spread of ICT risks and impeding potential contagion throughout the financial industry.

How would your organisation participate in such an important activity?
First, we encourage your organisation to have a formal plan for sharing information according to DORA requirements. Information-sharing arrangements have to (a) protect the potentially sensitive nature of the information, (b) define the conditions for participation, and (c) set out the details on the involvement of public authorities and their capacity.

Next, you have to have resources and capabilities to build up a strong cybersecurity team which will proactively collect, analyse and monitor past, current and potential threats and put in place and continuously improve risk mitigation practices and procedures. Proactively sharing information involves situational awareness and communication across the organisation, with the relevant competent authorities and, in some instances, with the general public.


We will provide you with tools to put together or enhance your organisation’s plan for sharing ICT incidents-related information to protect your company from cyber threats further and comply with DORA requirements.

Would you like to talk about DORA compliance? Contact us.