ContributedThis content is contributed or sourced from third parties but has been subject to Finextra editorial review.What regulatory deadlines are coming up in 2025? The financial services sector is facing a significant number of regulatory and standard updates, so Finextra has collated an overview of significant deadlines that are coming up this year.JanuaryEU – DORA will apply from 17 JanuaryThe EU’s highly anticipated Digital Operational Resilience Act (DORA) is designed to ensure operational resilience for the financial sector when faced with disruptions or incidents. The Act covers five core areas, which are governance, third-party risk mitigation,
resilience testing, incident reporting, and information sharing. It officially entered into force in January 2023 and institutions across the union need to be compliant by 17 January 2025.FebruaryEU – EU AI Act provisions become applicable on 2 February
On 2 February 2025, provisions for prohibited AI systems of the EU AI Act become applicable. These refer to bringing to market, putting into service or using AI systems which pose an unacceptable risk according to the AI Act’s definition.MarchUK – PS21/3 transition period ends 31 MarchPS21/3 is a policy issued by the Bank of England, Financial Conduct Authority (FCA), and Prudential Regulatory Authority (PRA) designed to ensure the UK financial sector is operationally resilient. Rules and guidance came into force on 31 March 2022, and
the transition period officially ends on 31 March 2025.JulyAustralia – CPS 230 will apply
from 1 JulyCPS 230 is a policy issued by the Australian Prudential Regulation Authority (APRA) designed to bolster the management of operational risk in the banking, insurance and superannuation industries. After being pushed from January 2024, the new deadline to
comply for local companies and companies operating in Australia is 1 July 2025.UK – Basel 3.1
implementation on 1 JulyDeveloped by the Basel Committee on Banking Supervision (BCBS) in light of the 2007- 2009 global financial crisis, the Basel 3.1 framework is designed to strengthen the regulation, supervision and risk management of banks.Initially planned for January, the UK PRA has decided to move the implementation date for Basel 3.1 to 1 July 2025.US – Section 1071 deadline for Tier 1 banks on 18 JulySection 1071 of the Dodd-Frank Act refers to fair lending laws requiring lenders to collect, and report information about lending to women owned, minority-owned and small businesses to the Consumer Financial Protection Bureau (CFPB). The CFPB has previously
extended the deadlines, with the first one now being 18 July 2025 for Tier 1 institutions.AugustEU – next round of AI Act provisions become applicable 2 AugustOne year after the EU AI Act came into force, the second round of provisions becomes applicable on 2 August 2025. These provisions mean that the Act’s rules relating to notified bodies (Chapter III,
