The FCA, PRA, and Bank of England have published their finalised critical third party (CTP) rules (and accompanying guidance) in PS24/16 Operational resilience: Critical third parties to the UK financial sector....more
11/25/2024
/ Bank of England ,
Compliance ,
Consultation ,
Final Rules ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
HM Treasury ,
Prudential Regulation Authority (PRA) ,
Regulatory Requirements ,
Supply Chain ,
Technology ,
Technology Sector ,
Third-Party ,
Third-Party Risk ,
Third-Party Service Provider ,
UK
Long IT sub-contracting chains can make it hard for financial institutions to understand the vulnerabilities in their IT estate and the location of key functions (where these may be located in entities who do not have a...more
9/23/2024
/ Bank of England ,
Compliance ,
Compliance Dates ,
Cybersecurity ,
EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
Implementing Technical Standards (ITS) ,
Information Technology ,
Prudential Regulation Authority (PRA) ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Management ,
Technology ,
Third-Party Service Provider ,
UK
The Games have kicked off in true Parisian style and is promising to be a groundbreaking spectacle, not just for the inspirational athletic feats we are certain to see but also for the innovative use of artificial...more
In a ground-breaking move to redefine player safety standards, Rugby Union has introduced smart mouthguard technology in an innovative approach to automatically withdraw players from the field who are suspected of sustaining...more
The announcement in 2021 of the intention to implement new rules directly targeting the types of tech service provider relied on by most financial institutions may be a necessary corrective given the heavy market...more
2/12/2024
/ Bank of England ,
Cloud Service Providers (CSPs) ,
Compliance ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Financial Stability Acts ,
FSMA ,
Regulatory Requirements ,
Third-Party Service Provider ,
UK
The FCA is continuing to crack down on firms and ‘finfluencers’ using social media for non-compliant and illegal financial promotions and this week has announced plans to update its existing guidance on social media and...more
With outsourced services capable of being provided (in many cases) far from a customer’s site, in the early stages of the COVID-19 outbreak, customers and suppliers may have been confident that their outsourcing strategy...more