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Cloud Computing European Union Financial Institutions

Hogan Lovells

ECB Guide on outsourcing cloud services to cloud service providers

Hogan Lovells on

The European Central Bank (ECB) has published its Guide on outsourcing cloud services to cloud service providers (the "Guide") clarifying how banks are expected to comply with obligations under the EU Digital Operational...more

A&O Shearman

ESMA revises cloud outsourcing guidelines to align with DORA

A&O Shearman on

The European Securities and Markets Authority (ESMA) has published its final report, updating the 2021 guidelines on outsourcing to cloud service providers in line with the Digital Operational Resilience Act (DORA). The 2021...more

BCLP

Cloud, Data Centre Sale-Leasebacks and the Pandemic - Accelerating Trends for UK and European Regulated Firms

BCLP on

The COVID-19 pandemic has accelerated the two linked trends of financial institutions transferring their IT infrastructure to the cloud and selling their self-owned data centres in order to lease back only the reduced space...more

Morgan Lewis - Tech & Sourcing

Coalition of European Banks Calls for Model Cloud Services Terms

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

Hogan Lovells

Financial institutions general regulatory news, January 2021

Hogan Lovells on

UK-EU trade and cooperation agreement After extensive negotiations, and within a week of the Brexit transition period ending on 31 - December 2020, the UK and the EU finally announced on 24 December 2020 that they had agreed...more

A&O Shearman

Financial Stability Board Publishes Reports on Implications of BigTech and Cloud Services

A&O Shearman on

The Financial Stability Board has published two reports on: (i) BigTech in finance and (ii) third-party dependencies on cloud services. The reports form part of the FSB’s ongoing work to analyze structural changes within the...more

Latham & Watkins LLP

FSB Concerns Over Cloud Concentration in Financial Services Continues

Latham & Watkins LLP on

The FSB is reviewing cloud provider concentration risk in the latest example of regulator concern over reliance on leading cloud providers by financial services institutions. The Financial Stability Board (FSB), an...more

Pillsbury Winthrop Shaw Pittman LLP

European Businesses Offering Payment Services Told How to Manage Operational and Security Risks

Payment service providers operating in the EU must take note of new risk management requirements from the European Banking Authority. The European Banking Authority’s operational and risk management guidelines apply to all...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

Skadden, Arps, Slate, Meagher & Flom LLP

"Privacy & Cybersecurity Update - October 2016"

In this edition of our Privacy & Cybersecurity Update, we take a look at the FCC's new rules for broadband privacy, the FTC's new playbook for data breach response and notification, the NHTSA's voluntary guidance for...more

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