Chapter IX — Transitional and final provisions
Amendments to Regulation (EU) No 648/2012
Summary
Makes consequential amendments to the European Market Infrastructure Regulation (EMIR) to align it with DORA requirements and remove duplicative ICT risk management provisions applicable to central counterparties and trade repositories.
Key Requirements
- 1
Amendments to EMIR for DORA alignment
- 2
Removal of duplicative ICT provisions for CCPs and trade repositories
- 3
Cross-references inserted to relevant DORA articles
Detailed Analysis
Article 61 amends the European Market Infrastructure Regulation (EMIR — Regulation (EU) No 648/2012) to align its ICT-related requirements with DORA. EMIR governs central counterparties (CCPs) and trade repositories — critical financial market infrastructures with significant ICT dependencies and high systemic importance.
The amendments address the overlap between EMIR's existing operational risk and IT-related requirements and DORA's comprehensive ICT risk framework. Where EMIR previously contained its own ICT risk provisions, these are replaced with cross-references to the corresponding DORA articles, creating a unified regulatory framework for ICT risk management.
For CCPs and trade repositories, these amendments simplify the compliance landscape by consolidating ICT risk requirements under DORA. However, given the systemic importance of these entities, they remain subject to enhanced requirements under both DORA and the residual provisions of EMIR that address non-ICT operational risk.
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