News & Analysis as of

Cyber Attacks Financial Conduct Authority (FCA)

Cadwalader, Wickersham & Taft LLP

How FCA Guidance Aligns With Global Cyberattack Measures

By March 31, 2025, U.K. firms regulated by the Financial Conduct Authority will be required to have conducted mapping and testing to ensure they remain within their impact tolerances for identified operational risks of...more

TransPerfect Legal

eDiscovery Trends in 2024

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TransPerfect Legal experts from across the globe sat down earlier this month to discuss the trends that will affect the eDiscovery industry (and all those who use the technology) in 2024. Stefan Nigam (UK), Tom Balmer...more

Goodwin

Generative AI and Financial Services: A Recent View From the UK Regulator

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In a recent speech, Nikhil Rathi, CEO of the UK Financial Conduct Authority (FCA), set out the FCA’s latest views on the role of artificial intelligence (AI) in financial services. The speech highlights many benefits but also...more

A&O Shearman

Cyber resilience: considerations for Boards

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The UK Financial Conduct Authority (FCA) has published its annual overview of insights from the Cyber Coordination Groups (CCG). Firms face an increasing threat of cyber attacks, particularly since the Covid-19 pandemic and...more

Morrison & Foerster LLP

New European Fintech Regulations Affecting ICT Providers

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Both the EU and the UK are taking steps to enhance the rules in the financial services sector to add a new layer of direct regulation for key technology providers to banks and other regulated financial services institutions –...more

Morrison & Foerster LLP

UK Quarterly Review: Business Crime, Investigations, and Regulatory Enforcement - April 2022

As the world watches in horror as the Russian invasion of Ukraine continues to unfold, the UK, as well as its allies and partners, has introduced a number of sanctions and trade restrictions in response. In this Quarterly...more

A&O Shearman

Cybersecurity challenges and mitigation strategies for financial services firms

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Recent industry feedback published by the UK Financial Conduct Authority shares insights on the identification and management of cybersecurity challenges and mitigation strategies for financial services firms. The feedback...more

King & Spalding

Operational Resilience and the Old Regulatory Two-Step

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The UK financial services regulators speak loudly and often about their forward-looking approach to supervision, which – rather than looking back – seeks to focus on future risks to firms and consumers. Yet, you only have to...more

Proskauer - The Capital Commitment

UK’s Financial Conduct Authority Warns That Fund Managers Are at Increased Risk of Cyber Attacks

With 46% of UK business reporting a cyber attack during 2019/2020 and 32% reporting at least one a week – see the UK Government’s Cyber Security Breaches Survey 2020 – the UK’s Financial Conduct Authority (“FCA”) has issued a...more

King & Spalding

The Financial Conduct Authority and Cyber Resiliency

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The Financial Conduct Authority (FCA) aims to guide regulated firms on its expectations of their cyber resiliency. In 2018, the FCA warned regulated firms of the risks of outdated IT systems and the lack of effective cyber...more

White & Case LLP

Financial Regulatory Observer - December 2019: Digitalization: Regulating the future of finance

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As technology reshapes the banking industry, regulators are rising to the challenge. Digitalization is at the forefront of the challenges facing the banking industry as it undergoes a period of unprecedented upheaval....more

BCLP

Getting The Deal Through - Cloud Computing 2020

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What kinds of cloud computing transactions take place in your jurisdiction? As a G7 economy with mature IT and related services markets, the UK is one of the most important global markets for cloud computing. According to...more

BCLP

Would you make contact with a hacker with a view to making payment?

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Last month saw BCLP host a high profile data breach seminar, in which industry specialists, the ICO’s Head of Investigations, a former convicted hacker and BCLP’s data breach team came together to discuss issues that arise...more

White & Case LLP

Singapore and UK financial watchdogs announce new cooperation efforts to strengthen cybersecurity

White & Case LLP on

Cyber attacks are a national security concern in the UK. While individuals can be victims of such attacks, private sector institutions are often the direct targets. Cyber attacks can critically damage a commercial reputation...more

Dechert LLP

FCA Enforcement Risk: The Year Ahead

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Firms will need to ensure their systems and controls to prevent financial crime and money laundering are working effectively: this is just part of the message contained in the FCA’s Business Plan for 2019/20. The Business...more

Robinson & Cole LLP

Data Privacy + Cybersecurity Insider - Recap of the Top Read Blog Posts in 2018

Robinson & Cole LLP on

New Year’s is a time to look back on the happenings of the year and focus on the lessons and reminders those events have provided. For our final newsletter of the year, we’d like to share with you our top 10 most read posts...more

WilmerHale

Final Notice in Tesco Personal Finance Plc - Cyber Attacks and the Need for Dress Rehearsals

WilmerHale on

In a Final Notice dated 1 October 2018, the FCA sanctioned Tesco Personal Finance Plc for failings connected with a cyber attack it suffered in November 2016. The attack originated from Brazil and attackers managed to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Privacy & Cybersecurity Update - October 2018

In this month's edition of our Privacy & Cybersecurity Update, we examine the European Data Protection Board's published opinions on data protection impact assessments, an Ohio court's ruling that bitcoin is covered insured...more

Katten Muchin Rosenman LLP

Bridging the Week - October 2018 #2

An international bank settled an enforcement action brought by the Commodity Futures Trading Commission for spoofing. However, in the process, the CFTC went out of its way to laud the bank for self-reporting the incident, as...more

A&O Shearman

UK Conduct Regulator Fines Retail Bank for Failures During a Cyber Attack

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The UK Financial Conduct Authority has published a final notice issued to a UK Retail Bank for breaches of Principle 2 of the FCA's Principles for Businesses. Principle 2 requires authorized firms to conduct their business...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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More on the rather shocking departure of John Flannery from GE, the Board that didn’t want to give him any more leash for his turnaround plans, and the future of the embattled corporate giant under Larry Culp....more

Dechert LLP

Asset Management Regulatory Roundup - December 2017 - Issue 12

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A compact summary of the most recent regulatory and tax developments relevant to the UK asset management industry. This issue includes details of the FCA’s stance on the reporting of cyber attacks; the Government’s opinion on...more

Dechert LLP

Investment Funds Update: Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

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FCA Issues New Guidance on Cyber Resilience and Notification of Cyber Attacks - The FCA published a new page on its website providing informal guidance on cyber resilience on 18 May 2017. Following the recent global...more

Orrick - Finance 20/20

New FCA Web Page on Cyber Resilience

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On May 18, 2017, the FCA published a new Web page on cyber resilience. The FCA notes that cyber risks pose a threat to all financial services firms. Firms should be aware of the threat, able to defend themselves...more

Cooley LLP

Blog: The FCA’s approach to cyber security in financial services firms

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Nausicaa Delfas, the FCA’s Director of Specialist Supervision has delivered a speech at the FT’s Cyber Security Summit, about the FCA’s approach to cyber security in financial services firms. There are 3 short takeaways...more

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