News & Analysis as of

Banking Sector Outsourcing Financial Institutions

Latham & Watkins LLP

OCC Affirms Banks Can Engage in Crypto Custody and Execution Activities

Latham & Watkins LLP on

The federal banking agencies continue to open the channels for regulated entities to engage in digital asset activities. On May 7, 2025, the Office of the Comptroller of the Currency (OCC) published Interpretive Letter...more

Walkers

A comprehensive guide to the BMA's proposed new Operational Resilience and Outsourcing Code

Walkers on

In response to the increasing interconnectedness of financial service providers across global networks, the BMA is proposing to implement a new Operational Resilience and Outsourcing Code for regulated entities across all...more

Morgan Lewis - Tech & Sourcing

Outsourcing in Luxembourg: CSSF Consolidates Regulations for Financial Institutions

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

Morgan Lewis - Tech & Sourcing

Global Trailblazer Mike Pierides on Outsourcing in the Financial Services Industry

As part of our Spotlight series, we spoke with Mike Pierides, the deputy leader of our technology, outsourcing, and commercial transactions team and a co-leader of our digital solutions industry team, on outsourcing in the...more

Goodwin

FDIC Seeks Comment on Supervisory Approach to Examinations During Pandemic

Goodwin on

In This Issue. The Federal Deposit Insurance Corporation (FDIC) is seeking information and comment regarding the FDIC’s supervisory approach to examinations during the pandemic; the FDIC’s tech lab, FIDTECH, announced a “tech...more

Latham & Watkins LLP

New Challenges for Transitional Services Agreements in Financial Services M&A

Latham & Watkins LLP on

Subcontractors, security, and audit and termination rights will require special consideration under forthcoming EBA outsourcing guidelines. Recent growth in divestiture and carve-out deals in the M&A landscape, including...more

Pillsbury - Global Sourcing Practice

European Banking Authority Outsourcing Guidelines: Time to Act

From September 30, 2019, new guidelines on outsourcing arrangements (Guidelines) issued by the European Banking Authority (EBA) will apply to all outsourcing arrangements entered into, reviewed or amended on or after this...more

Morgan Lewis

European Banking Authority Issues Recommendations for Outsourcing to Cloud Service Providers

Morgan Lewis on

European financial institutions (competent authorities, credit institutions, and investment firms as defined in EU Regulation No. 575/2013, collectively Institutions) have been instructed to comply with the European Banking...more

A&O Shearman

The reform of the professional secrecy in the financial and insurance sector: the key changes

A&O Shearman on

The provisions of the long awaited act of 27 February 2018 (the 2018 Act) which aim at smoothing (especially in the context of outsourcing arrangements) the professional secrecy regime that credit institutions, professionals...more

Pillsbury Winthrop Shaw Pittman LLP

Cloud Computing by EU Financial Institutions Gets a New Rule Book

Financial institutions should take note of, and make every effort to comply with, the European Banking Authority’s new cloud computing guidance which will be effective from 1 July 2018. In order to clarify EU-wide...more

Davis Wright Tremaine LLP

Federal Reserve Adds to Agency Guidance on Third Party Relationships

On Dec. 5, 2013, the Federal Reserve joined the list of regulatory agencies that have issued guidance on third party relationships. The Fed guidance supplements the FFIEC Outsourcing Technology Services Booklet (June 2004)...more

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