UK regulators release final operational resilience policies

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

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

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

FCA publishes technology change management review

On 5 February 2021, the Financial Conduct Authority (FCA) published a report titled ‘Implementing Technology Change’, which sets out findings from its review into how financial services firms manage technology change, the impact of change failures, and industry practices to help reduce the impact of incidents resulting from change management. Read more

FSR Outlook 2021: Paving the Way Forward

We are pleased to announce the launch of FSR Outlook 2021: Paving the Way Forward. In this annual publication, we survey the regulatory landscape in 2021 and identify some themes that we expect to be at the core of regulatory priorities globally in the next 12 months. Read more

FSB consults on regulatory and supervisory risks with financial sector outsourcing and third-party relationships

Regulation and supervision of outsourcing arrangements and third-party relationships entered into by financial institutions continues to be an area of great focus for regulators.  The FSB’s latest discussion paper sets out an overview of the regulatory and supervisory landscape on outsourcing and third-party risk management across a number of jurisdictions based on a survey carried out in Q1 2020.  The deadline for providing feedback is 8 January 2021. Read more

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

Last month, 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. Read more