DORA-Vollzugsgesetz (DORA-VG), Competent Authority, Scope Extension and ICT Risk Penalties
DORA-VG, BGBl. I Nr. 112/2024, Art. 1, §§ 2, 3, 7 und 8
In force since .
A sector security regimes rule binding public and private bodies.
- Obligation class
- Security, Governance
As of .
What it requires
- If you are a financial entity that Section 2 of the DORA-VG lists and the Finanzmarktaufsichtsbehörde (FMA) supervises under Article 46 of Regulation (EU) 2022/2554, such as a credit institution, payment or e-money institution, investment firm, crypto-asset service provider, central securities depository, central counterparty or trading venue, this Act and the Regulation bind you.
- If you are a credit institution under Section 1(1) of the Bankwesengesetz that is not one of the financial entities DORA Article 2(1)(a) to (t) lists, apply this Act, the Regulation and its delegated and implementing acts to yourself as if you were a credit institution under Article 2(1)(a) (Section 3(1)).
- Meet DORA's requirements on ICT risk management (Articles 5 to 14, except Article 11(11)), simplified ICT risk management (Article 16(1) and (2)), handling, classifying and reporting ICT-related incidents and cyber threats (Articles 17, 18(1) and (2) and 19), digital operational resilience testing (Articles 24 and 25) and ICT third-party risk (Articles 28 to 30), which Section 7(1) enforces.NIST CSF 2.0GV.OC-03
- If you are identified under DORA Article 26(8), carry out the advanced threat-led penetration testing that Articles 26(1) to (6) and (8) and 27 require (Section 7(1)(5)).NIST CSF 2.0ID.IM-02
These lines are LexLint's reading of the law's text, as of .
In the frameworks
- NIST Privacy Framework
- NIST CSF 2.0
- GV.OC-03Legal, regulatory, and contractual requirements regarding cybersecurity - including privacy and civil liberties obligations - are understood and managed
- ID.IM-02Improvements are identified from security tests and exercises, including those done in coordination with suppliers and relevant third parties
- CIS Controls
- FINOS AIGF
- AIR-PREV-005System Acceptance Testing
- AIR-PREV-006Data Quality & Classification/Sensitivity
- AIR-PREV-024Human-in-the-Loop Action Approval Gate
- AIR-DET-004AI System Observability
- AIR-DET-011Human Feedback Loop for AI Systems
- AIR-DET-021Agent Decision Audit and Explainability
- ENISA NIS2 guidance
Our reading of where this law's duties sit in each framework, and in the NIST CSF 2.0, line by line beside each duty above. It never says that running a control meets the law. How we read a framework against the law
CIS Critical Security Controls® (CIS Controls®) v8.1 © Center for Internet Security, Inc. Safeguard numbers are used under a CIS Controls Supporter License; the one-line descriptions beside them are our own, not CIS text.
If you get it wrong
Criminal exposureNo
Private right of actionNo
Criminal exposure note
Section 7 makes a failure to meet the listed DORA requirements an administrative offence (Verwaltungsübertretung) fined by the FMA, not a criminal offence.
Penalty structure
Section 8(3) sets the FMA's fine on a legal person at up to EUR 500,000 or up to 1 percent of annual net turnover, whichever is higher; Section 7 sets the fine on the natural person responsible for the financial entity at up to EUR 150,000.
- Rule
- Higher of
- As of
- Currency
- EUR
- Fixed cap
- 500,000
- Turnover percentage cap
- 1
Who enforces it
Enforcement body
Finanzmarktaufsichtsbehörde (FMA), the competent authority under Section 2 and DORA Article 46.
Settledness
- As of
What this law does
The DORA-Vollzugsgesetz (DORA-VG), Article 1 of BGBl. I Nr. 112/2024 of , gives effect in Austria to Regulation (EU) 2022/2554 (DORA) on digital operational resilience for the financial sector.
Section 2 makes the Finanzmarktaufsichtsbehörde (FMA) the competent authority under Article 46 of the Regulation for credit institutions (except where supervision is reserved to the European Central Bank), payment institutions, e-money institutions, investment firms, crypto-asset service providers, central securities depositories, central counterparties, trading venues and the other entity types the Section lists.
Section 3(1) applies the Act and the Regulation to a credit institution that is not one of the financial entities DORA Article 2(1)(a) to (t) lists as if it were a credit institution under Article 2(1)(a).
Under Section 7 the person responsible for a financial entity commits an administrative offence, punishable by the FMA with a fine of up to EUR 150,000, by failing the Regulation's ICT risk-management requirements (Articles 5 to 14, except Article 11(11)), its requirements for handling, classifying and reporting ICT-related incidents (Articles 17, 18(1) and (2) and 19), its resilience-testing requirements (Articles 24 and 25) or its ICT third-party risk requirements (Articles 28 to 30), among other listed infringements.
Under Section 8 the FMA can fine a legal person for those infringements up to EUR 500,000 or up to 1 percent of annual net turnover, whichever is higher. The Act enters into force on .
When LexLint raises it
When your app profile says your app provides financial services.