Céline Valensi, Responsable éditoriale, Décideurs Corporate Finance, Leaders League - GROUPE FICADE est face à Stefano Bianchi, Managing Partner chez PAVIA E ANSALDO STUDIO LEGALE, à l'occasion du Private Equity Exchange qui s'est déroulé le 13 novembre au Pavillon d'Armenonville à Paris.
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00:00Hi, we are here at 33th edition of Private Equity Exchange. Thank you to join us on Smart TV. We are here with Stefano Bianchi. Welcome.
00:18Thank you very much.
00:20Thank you so much to be with us. So you just left a panel called Dora Regulation. Can you just say some word about it? What about Dora Regulation?
00:32Yes, thank you very much. In a nutshell, the Dora Regulation is a very complex new regulation concerning the financial entities.
00:43And it is based essentially on five pillars, which are respectively governance, management risk, so policy, protocols, procedures, tools.
00:58And resilience testing, reporting of incidents together. And then very new important matter, the regulation of the ICT third party providers.
01:19Last but not least, the sharing of information between authorities that are supposed to receive and create taxonomy for all the incidents that the financial entities will be obliged to report.
01:39As you can easily understand, it is a quite broad and pervasive matter for financial entities including, for example, manager of alternative funds, banks and many other players with some exceptions.
01:59In particular, there are exceptions for micro enterprises because they will be obliged to abide by the rules but in a simplified way.
02:14So, I think that it is extremely important that all the players in the financial markets are ready to face in the most appropriate efficient way.
02:30Mr. Bianchi, what about the market and the impact of this regulation on the market?
02:36The impact will be major because you have to consider that in practical ways, financial entities will have to first completely rethink their governance
02:54as far as the responsibilities for the control of the possible critical situation in case of cyber attacks could occur.
03:14And secondly, they also do consider the need to renegotiate their agreements with ICT third party providers like giant, like artificial intelligence providers or software systems and so on.
03:38Because the interconnection between all the players in the financial ecosystem can have a major, it's a major topic because it has very important effects on investors and consumers.
03:57Thank you so much Mr. Bianchi and thank you and see you soon on Smart TV.