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
Beginning January 17, 2025, financial entities based in the European Union must have in place processes and policies, and mandatory contract provisions with their third-party technology vendors, that comply with the EU...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
As part of our Technology Marathon webinar series, partners Kristin Lee, Mike Pierides, and Steven Stone recently discussed the increasing regulatory focus by financial regulators on artificial intelligence (AI). Here are...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
On October 11, the Bank of England (BoE), the Prudential Regulation Authority (PRA), and the UK Financial Conduct Authority (FCA) (together, the Supervisory Authorities) published a discussion paper (DP5/22) on the safe and...more
The financial services regulations relating to outsourcing by Luxembourg-headquartered financial institutions have been significantly simplified by the introduction of the Commission de Surveillance du Secteur Financier...more
Open Banking is an initiative mandated by the UK’s Competition and Markets Authority (CMA) in 2017. It is intended to facilitate better competition in the banking sector by mandating protocols that facilitate the secure...more