News & Analysis as of September 21, 2024

Cybersecurity › Bank of England

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

UK Regulators Propose Rules for Supervising Critical Third Parties

A&O Shearman on 12/13/2023

Following feedback to their July discussion paper, the U.K. regulators—the Bank of England, Prudential Regulation Authority and Financial Conduct Authority—have launched a joint consultation proposing rules and regulatory...more

Daily Financial Regulation Update -- Tuesday, October 17, 2023

Paul Hastings LLP on 10/17/2023

October 16, 2023- The U.S. Department of the Treasury and the Cyber Security Council of the United Arab Emirates announced the finalization of a bilateral Memorandum of Understanding on Cybersecurity Cooperation during a...more

Daily Financial Regulation Update -- Wednesday, December 14, 2022

Paul Hastings LLP on 12/14/2022

December 13, 2022- State bank supervisors have appointed New York State Department of Financial Services Superintendent Adrienne A. Harris to serve as the state banking supervisor's representative on the Financial Stability...more

Operational resilience in the UK, EU and US: A comparison

White & Case LLP on 12/5/2022

With a new operational resilience framework in force in the UK and similar reforms proposed in the EU and the US, we examine how the regimes compare and their practical impact on financial services firms....more

Daily Financial Regulation Update -- Friday, October 7, 2022

Paul Hastings LLP on 10/7/2022

October 6, 2022- U.S. Secretary of the Treasury Janet L. Yellen announced that Treasury has signed a loan agreement for the Clean Technology Fund—a multilateral trust fund which helps to scale up low carbon technologies in...more

Daily Financial Regulation Update -- Friday, July 1, 2022

Paul Hastings LLP on 7/1/2022

June 30, 2022- The Task Force on Financial Technology held a hearing entitled, "Combatting Tech Bro Culture: Understanding Obstacles to Investments in Diverse-Owned Fintechs."...more

Financial institutions general regulatory news, March 2020

Hogan Lovells on 3/16/2020

Spring 2020 Budget: key financial services announcements - The Chancellor of the Exchequer, Rishi Sunak, has delivered the Spring 2020 Budget. The Budget includes a number of measures of interest to financial services...more

Financial Daily Dose 11.08.2019 | Top Story: US and China Set to Roll Back Tariffs as Part of Trade Deal First Phase

Robins Kaplan LLP on 11/8/2019

The U.S. and China have tentatively [maybe?] agreed that a first phase of a trade agreement “would roll back a portion of the tariffs placed on each other’s products, a significant step toward defusing tensions between the...more

Bank of England Publishes Report on the Future of the UK Financial System and the Bank's Priorities for the Future

A&O Shearman on 7/10/2019

Huw van Steenis, the Bank of England financier appointed by the BoE in 2018 to review the future of the U.K. financial system, has published his "Future of Finance" report, setting out a vision for the medium-term future of...more

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

White & Case LLP on 7/2/2019

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

Financial Services: UK Regulators Shine a Spotlight on Cybersecurity and Technology Resilience

King & Spalding on 4/4/2019

In a paper published last month,[i] the UK’s Financial Conduct Authority (“FCA”) set out various cybersecurity insights gleaned from the work of cyber coordination groups (“CCGs”) the regulator established in 2017. The...more

Bank of England Consults on Incident Reporting Rule for CCPs

A&O Shearman on 2/20/2018

The Bank of England has published a consultation paper on a new rule to formalize the supervisory expectation that CCPs will report any incidents relating to their information technology systems to the BoE. The BoE's move...more

Financial Regulatory Developments Focus - November 2016

A&O Shearman on 11/21/2016

In this newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and...more

UK Financial Conduct Authority—Regulated Firms Can Go to the Cloud

Pillsbury - Global Sourcing Practice on 8/12/2016

July 7, 2016, saw the UK’s Financial Conduct Authority (FCA) publish fresh guidance in order to clarify the requirements which apply to the financial services firms it regulates when outsourcing to the cloud. When the FCA...more

CFTC Announces Agenda For Upcoming Market Risk Advisory Committee Meeting

Katten Muchin Rosenman LLP on 5/28/2015

The Commodity Futures Trading Commission’s Market Risk Advisory Committee (MRAC) announced its agenda for its upcoming meeting on June 2. MRAC will discuss: (1) the Bank of England’s CBEST Program and its impact on addressing...more

Bank of England Launches New Framework to Test for Cyber Vulnerabilities

Orrick - Finance 20/20 on 6/18/2014

On June 10, the Bank of England launched a new framework to help identify areas where the financial sector could be vulnerable to sophisticated cyber-attack. The new framework is called CBEST and was launched in May 2014. ...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 6/16/2014

Bank of England Launches New Framework to Test for Cyber Vulnerabilities - On June 10, the Bank of England launched a new framework to help identify areas where the financial sector could be vulnerable to sophisticated...more

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