Other DORA topics

For the purposes of DORA Regulation, what category of enterprise should be a financial entity that is not a „small enterprise“ and employs more than 250 persons but has an annual turnover that does not exceed EUR 50 million and an annual balance sheet that does not exceed EUR 43 million? Interpreting Article 3 (64) of the DORA Regulation, is it enough one of the thresholds referring to employees, turnover or balance sheet to be exceeded in order the enterprise to be classified as „large enterprise“, or it is required more than one or all the thresholds to be exceeded cumulatively?“

A licensed insurance broker has submitted a formal inquiry regarding its classification under DORA. According to the latest published annual financial statements for the year 2022, the broker's annual turnover does not exceed EUR 50 million, and the balance sheet total remains below EUR 43 million. Furthermore, the company declares that it employs more than 250 individuals. In accordance with Article 2(3)(d) and Article 3(64) of the DORA Regulation, the broker seeks an official opinion on whether it qualifies as a medium-sized enterprise within the meaning of the Regulation and, if so, whether it falls within the scope of the exemptions provided under Article 2(3)(d).