An FCA report evaluates the chequered implementation of technology change and identifies risks and best practices to help firms better navigate this change.
Of the nearly 1,000 “material incidents” reported to the UK’s...more
Although still actively developing, current UK policy thinking in relation to cryptocurrencies was set out by the UK Cryptoassets Taskforce in its Final Report (the “Taskforce Report”), published in October 2018.
The...more
11/19/2019
/ Banking Sector ,
Blockchain ,
CFTC ,
Cryptocurrency ,
Custody ,
Digital Assets ,
Financial Services Industry ,
General Data Protection Regulation (GDPR) ,
Income Taxes ,
Popular ,
Regulatory Requirements ,
Smart Contracts ,
UK
UK Treasury Committee report warns that the current level and frequency of disruption and consumer harm is unacceptable.
On 28 October 2019, the Treasury Committee published a report on IT failures in the financial...more
10/30/2019
/ Banking Sector ,
Corporate Communications ,
Corporate Management ,
Financial Services Industry ,
HM Treasury ,
Information Reports ,
Information Technology ,
Outsourcing ,
Risk Management ,
SMCR ,
UK
Insights from Latham’s flagship event: Managing the risk and promise of digitisation in financial services -
The financial services industry is leading the way in outsourcing, with contract values in excess of US$10.7...more
10/21/2019
/ Compliance ,
Digital Currency ,
Enforcement Actions ,
EU ,
European Banking Authority (EBA) ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Outsourcing ,
Prudential Regulation Authority (PRA) ,
Regulatory Agenda ,
Risk Assessment ,
Risk Management ,
Third-Party Service Provider ,
UK
The Bank of England (BoE) announced on 19 July 2017 that it is extending direct access to its real-time gross settlement (RTGS) service to non-bank payment service providers (i.e., e-money institutions and payment service...more
The Financial Conduct Authority (FCA) has provided an update on its regulatory sandbox initiative. The sandbox is part of Project Innovate, and allows businesses (whether already authorised or not) to test new offerings in...more
Innovative businesses in the financial services industry looking to test exciting new financial products and services will be able to apply to the UK’s regulatory sandbox beginning May 9.
The “regulatory sandbox” is the...more