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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#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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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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ESMA publishes Report on licensing of FinTech business models

On 12 July, the European and Securities Markets Authority (ESMA) published its Report on the licensing of FinTech business models (the Report) as part of the European Commission’s wider FinTech Action Plan. While ESMA concluded in its report that it was not necessary to put forward any recommendations to the European Commission to adapt the current financial services legislative framework to address innovative business models in the FinTech industry, the Report did set out some of the key challenges National Competent Authorities (NCAs) are facing in regulating FinTech firms.

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Corporate Crime update – April 2018

Welcome to the April 2018 edition of our corporate crime update – our round up of developments in relation to corruption, money laundering, fraud, sanctions and related matters. Our update now covers a number of jurisdictions. Below we provide a brief overview of what is covered in each update.  Continue reading

UK Government’s future Partnership Paper on Foreign policy, defence and development: including proposals for co-operation on sanctions, cyber security, and the defence and security industries

The UK Government has released a Paper outlining the UK’s proposals for a future partnership with the EU regarding foreign policy, defence and development. The Paper highlights the UK’s shared interests and values with the EU regarding foreign policy and defence, and the UK Government’s offer and intention to work closely with the EU in the future in a partnership “unprecedented in its breadth”, and that is deeper than any other third country relationship. The Paper offers a number of insights into the practical ways in which the UK envisages that such cooperation will be achieved after Brexit, including in relation to sanctions, cyber security, defence and security, development and broader foreign policy. Continue reading