Fintech: Latest UK Legal and Regulatory Trends

We are pleased to share our publication on Fintech: Latest UK Legal and Regulatory Trends.

As the UK finally starts to emerge from Brexit, it is seeking to capitalise on its new-found freedom. Covid-19 continues to act as a catalyst for the rapid development of innovative financial solutions. And the UK remains one of the most receptive markets for Fintech – with record levels of
investment and a consumer adoption rate that exceeds the global average. Continue reading

UK regulators release final operational resilience policies

The end of March saw a flurry of activity on operational resilience as the UK regulators published final policy on operational resilience and, for the UK Prudential Regulation Authority (PRA), final rules on outsourcing and third party risk management while the Basel Committee on Banking Supervision (BCBS) issued its new Principles for Operational Resilience and revised Principles for the Sound Management of Operational Risk.

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Operational Resilience: respond, enhance, thrive

Operational resilience is the next phase in the evolution of financial services regulatory policy.

Regulators’ expectations are increasing – but it’s an evolution rather than a revolution; firms – more specifically firms’ senior managers – must “join the dots” across a range of practical risk management and governance activities.

To help keep you up to date on the upcoming regulatory expectations, we are pleased to announce the launch of our new #OperationalResilience hub. Continue reading

#OperationalResilience Asia Webinar: How to Manage and Prevent Disruptive Digital Events

Operational resilience is the ability to “prevent, adapt, respond to, recover and learn from operational disruptions”.

On 24 February, our cross-practice panel of experts from Hong Kong, Singapore and London will discuss:

  • the regulatory expectations, as regulators take steps to bolster operational resilience in financial services;
  • the types of severe but plausible disruptive digital events that firms should prepare for, from systems outages to cyber attacks;
  • crisis management, including how to deal with ransom demands;
  • data implications arising from an operational incident; and
  • how to mitigate the impact of disruption, focusing on outsourcing.

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EU digital finance and retail payments strategies: understanding the big picture

On 24 September 2020, the European Commission (“EC”) adopted a new Digital Finance Package, which it published together with a communication entitled “A Retail Payments Strategy for the EU” containing specific policy measures needed in relation to payment services given their key role among digital financial services. The European Parliament (“EP”) subsequently adopted a nonbinding resolution on the EC’s Digital Finance Package on 8 October 2020. Continue reading

Webinar: A cyber and data security perspective on Operational Resilience in Financial Services

Financial services regulators are expecting firms to prevent, respond to, recover and learn from operational disruption. As Christine Lagarde, President of the European Central Bank, has warned, a combined cyber attack on important banks could trigger financial instability.

In this webinar our experts in financial services, cyber and data security, data privacy, outsourcing and digital disruption, together with Deloitte’s Customer Breach Support team, share their experience of operational disruption.

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