Outsourcing

Fintechs: the golden ticket to innovation?

If the level of capital flowing into the financial technology sector is any indication, the growth in number and size of financial technology start-ups cannot be denied. According to a report by KPMG, global investment in fintech companies reached US … Continue reading

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Filed under Digital, FinTech, Outsourcing, Regulation, Technology

Sourcing in the Digital Age – Shaped by Disruption

Many people believe that we are currently witnessing a fourth industrial or technological revolution, with the advent and increasing use of a wave of disruptive technology. Over the past fi ve years, the market has seen the arrival of a … Continue reading

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Filed under Data Protection & Privacy, Digital, Outsourcing, Technology

Outsourcing to the Cloud: EBA issues Final Report on Recommendations

On 20 December 2017 the European Banking Authority (“EBA”) published its Final Report: Recommendations on Outsourcing to Cloud Service Providers (“CSPs“). The Recommendations will apply from 1 July 2018 to credit institutions as well as investment firms (i.e. not solely … Continue reading

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Public Sector IT Procurement Update: UK Government publishes updated Model Services Contract, guidance on GDPR re-papering and extends “G-Cloud 9” framework for cloud services procurement

Model Services Contract: On 1 January 2018, the Cabinet Office, Crown Commercial Service (“CCS“) and the Government Legal Service (“GLS“) published an updated version of the Model Services Contract (“MSC“). This version is stated to reflect developments in government policy, … Continue reading

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Filed under GDPR, Outsourcing

EBA publishes guidance on (i) outsourcing to cloud service providers and (ii) ICT Risk Assessment by competent authorities

On 18 May 2017, the European Banking Authority (“EBA“) published its draft recommendations on outsourcing to cloud service providers (the “EBA Recommendations“). Under Article 16 of the Regulation (EU) No 1093/2010, the EBA is required to issue guidelines and recommendations … Continue reading

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Filed under Guidance, Outsourcing, Technology

FinTech: Bank of England launches FinTech community and FCA publishes discussion paper of distributed ledger technology

In March 2017, the Bank of England FinTech Accelerator launched a new fintech community. The new community has three main objectives: to share developments, trends and insights to facilitate learning within the Bank and across the sector; to ensure the … Continue reading

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Filed under FinTech, Outsourcing, Technology

Digital Economy Act 2017: The pick ‘n’ mix assortment of provisions receives Royal Assent

The Digital Economy Act (the “Act“) finally received Royal Assent on 27 April 2017 and the final text was published at the beginning of May. First introduced in the House of Commons in July 2016, it has been the subject … Continue reading

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Filed under Brexit, Digital, Media & Entertainment, Outsourcing, UK Law

Secretary of State for Media, Sport and Culture publishes UK Digital Strategy

In March 2017, the Secretary of State for Media, Sport and Culture published its long-awaited strategy for a post-Brexit digital Britain. The UK Digital Strategy aims to support the growth of the UK digital economy. It builds on the framework … Continue reading

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Filed under Brexit, Digital, Media & Entertainment, Outsourcing

EU Council publishes Progress Report on draft EU ePrivacy Regulation

On 15 May 2017, the Council of the European Union published its progress report (the “Report“) on the first draft of the ePrivacy Regulation (the “Draft Regulation“). The Draft Regulation focuses on the processing of personal data and protection of … Continue reading

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Filed under Data Protection & Privacy, EU Law, Outsourcing, Regulation

EU-US Privacy Shield first annual review announced following a challenging introduction

On 12 July 2016, the European Commission adopted an “adequacy decision” allowing for the transatlantic transfer of personal data from the EU to the US in accordance with the framework and principles of the EU-US Privacy Shield (the “Privacy Shield“). … Continue reading

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Filed under Data Protection & Privacy, EU Law, Outsourcing