With the UK regulators' operational resilience policy package finalised at the end of March, an early May speech from Lyndon Nelson, PRA Deputy CEO & Executive Director of Regulatory Operations and Supervisory Risk Specialists was well-timed. Mr Nelson's authoritative voice has guided the evolution of operational resilience as a regulatory – or perhaps more particularly, a supervisory – concept for a number of years on both the UK and the global stages. Read more

At the end of March, the Prudential Regulation Authority (PRA) published the Policy Statement (PS7/21) and the Supervisory Statement (SS2/21) which set out its expectations of PRA-regulated firms regarding outsourcing and third party risk management. The publications are part of the wider operational resilience policy package released jointly with the Bank of England (the Bank) and the UK Financial Conduct Authority (FCA). In this post, we briefly explain the background to these publications and review the implications for both PRA-regulated firms and service providers. Read more

We are pleased to share our publication on Fintech: Latest UK Legal and Regulatory Trends. The publication covers a range of different topics – from big issues such as the overarching UK reform agenda through to some of the day-to-day issues that the Fintech industry is currently grappling with – and highlights some current key trends for Fintech. Read more

In this post, we revisit the background to development of operational resilience in the UK, review the publications issued by the Financial Conduct Authority (FCA), the PRA, and the Bank of England (the Bank) in March, and briefly discuss the wider context. Read more

In this blog post, we round-up forthcoming developments in the UK and at EU and International levels in financial services regulation which are expected for April 2021. Read more

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. Read more

In our 24 February webinar, our cross-practice panel of experts from Hong Kong, Singapore and London will discuss operational resilience. This webinar will be of interest to senior management, legal, compliance, risk management, regulatory, data privacy, information security and corporate communications professionals who are responsible for managing, responding to and preventing significant disruptive incidents. Read more