European regulators recently published clarifications on the scope of ICT services under the EU Digital Operational Resilience Act (DORA), prepared by the European Commission, which confirms previous guidance and enables...more
Starting as of Friday, January 17, 2025, financial entities must now be compliant with the EU’s Digital Operational Resilience Act (DORA). Implementation efforts have accelerated in recent months to meet the deadline and in...more
UK financial regulators recently published their supervisory expectations for critical third party service providers (CTPs) to the financial sector under the United Kingdom’s new regime extending regulatory oversight to CTPs....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
New ICT incident reporting requirements under Circular 24/847 (Circular) of the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg’s financial regulator, will come into effect on April 1. This introduces a new...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 Bank of England (Bank) and the UK Financial Conduct Authority (FCA) published their final report of discussions from the UK Artificial Intelligence Public-Private Forum on February 17. Over quarterly meetings and several...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