The European Banking Authority (EBA) recently published a consultation paper (Consultation) that proposes to expand third-party risk management requirements for certain EU-regulated financial entities. The Consultation would...more
8/29/2025
/ Banks ,
Consultation Papers ,
Contract Terms ,
Digital Operational Resilience Act (DORA) ,
EU ,
European Banking Authority (EBA) ,
Financial Institutions ,
Information Technology ,
Outsourcing ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Management ,
Third-Party Risk
The UK Financial Conduct Authority (FCA) on October 31, 2024 published observations and key lessons from how firms responded to the CrowdStrike IT outage. The outage caused disruption across several industries globally, and...more
Starting January 17, 2025, financial entities based in the European Union must have in place processes and policies, as well as mandatory contract provisions with their third-party technology vendors, that comply with the...more
The European Central Bank (ECB) has published data showing that banks are increasingly using third-party providers to support their critical functions. However, more than 10% of outsourcing contracts covering critical...more
The European Cloud User Coalition (ECUC) published a paper (the Position Paper) on May 17 recommending, among other matters, the adoption of “model clauses” for the long-term compliant use of cloud technologies....more
6/15/2021
/ Banks ,
Cloud Computing ,
Cloud Service Providers (CSPs) ,
Consumer Service Agreements ,
Cybersecurity ,
Data Privacy ,
Data Processors ,
Data Security ,
EU ,
European Commission ,
Financial Institutions ,
FinTech ,
Innovative Technology ,
Model Clauses ,
Standard Contractual Clauses