Financial services firms are increasingly reliant upon third-party companies to provide important services, ranging from cloud services and data analytics to machine learning and cash distribution. As these third parties...more
10/6/2022
/ Committee on Payments and Market Infrastructure (CPMI) ,
Discussion Draft ,
Financial Regulatory Agencies ,
Financial Services Industry ,
HM Treasury ,
IOSCO ,
Outsourcing ,
Prudential Regulation Authority (PRA) ,
Regulatory Standards ,
Risk Mitigation ,
Third-Party Risk ,
Third-Party Service Provider ,
UK
Artificial intelligence (AI) and algorithmic models are used extensively in the financial services sector across a broad range of business areas. Two-thirds of respondents to a survey conducted jointly by the UK’s Prudential...more
7/6/2022
/ Algorithms ,
Artificial Intelligence ,
Bias ,
Data Integrity ,
Data Management ,
Duty of Care ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
Information Reports ,
Prudential Regulation Authority (PRA) ,
Risk Mitigation ,
SMCR ,
Surveys ,
Transparency ,
UK
In May the PRA’s Lyndon Nelson gave a speech about the development of the Regulator’s response to cyber risk. In his speech he...more
During July the FCA made two announcements which demonstrate its continued focus on culture and diversity and their intersection with governance. In a Consultation Paper, it announced proposed changes to Listing Rules which...more
8/30/2021
/ Consultation ,
Corporate Governance ,
Disclosure Requirements ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Financial Conduct Authority (FCA) ,
Listing Rules ,
Prudential Regulation Authority (PRA) ,
Publicly-Traded Companies ,
SMCR ,
UK
Five years ago, on 7 March 2016, the Senior Managers and Certification Regime (SMCR) came into force. At first it applied only to dual-regulated banks, those which are regulated both by the FCA and PRA.
Originally...more
The Financial Conduct Authority ("FCA") and the Prudential Regulatory Authority ("PRA") (collectively referred to as "the Regulators") published a joint policy statement ("the Statement") on 1 February 2017. The Statement...more