The demand for data centers is continuing to accelerate, fueled largely by generative artificial intelligence (Gen AI), broader digital transformation, and organizations migrating to cloud infrastructure. Gen AI adoption...more
European regulators recently published clarifications on the scope of ICT services under the EU Digital Operational Resilience Act (DORA), prepared by the European Commission, which confirms previous guidance and enables...more
Starting as of Friday, January 17, 2025, financial entities must now be compliant with the EU’s Digital Operational Resilience Act (DORA). Implementation efforts have accelerated in recent months to meet the deadline and in...more
The landscape for outsourcing, technology, and artificial intelligence (AI) transactions continues to undergo significant transformations as businesses navigate technological advancements, regulatory changes, and data privacy...more
In the weeks following a defective software update that disrupted several industries globally, including financial services, aviation, retail, and emergency services, remediation efforts remain ongoing while organizations...more
The UK Prudential Regulation Authority (PRA) published a policy statement (PS7/21) and a supervisory statement (SS2/21) on clarifying and modernizing regulatory expectations of outsourcing and third-party risk management on...more
In December 2019, we published a blog post introducing open banking; here, we provide an update for 2020. To briefly summarize, open banking comprises a set of rules which permit third-party providers (TPPs) of financial...more
10/1/2020
/ Cyber Crimes ,
Cybersecurity ,
Data Collection ,
Data Management ,
EU ,
Financial Institutions ,
Financial Services Industry ,
Open Banking ,
Personal Data ,
Risk Management ,
Third-Party Service Provider ,
UK Competition and Markets Authority (CMA)
The European Securities and Markets Authority (ESMA) published its draft guidelines on outsourcing to cloud service providers on June 3. Steven Maijoor, the chair of ESMA, indicated that the purpose of the guidelines is to...more
The Financial Stability Board (FSB) published on December 9, 2019, its report on financial institutions’ increasing reliance on third parties to provide cloud computing services (the Report)....more