Financial Institutions, Data Security, Cloud Computing

ECB Guide on outsourcing cloud services to cloud service providers

Hogan Lovells on 7/25/2025

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

Coalition of European Banks Calls for Model Cloud Services Terms

Morgan Lewis - Tech & Sourcing on 6/15/2021

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

Critical Guidance for Financial Institutions on Security Considerations for Cloud Computing Environments

Baker Donelson on 5/4/2020

On April 30, 2010, the Federal Financial Institutions Council (FFIEC) issued Guidance on the use of cloud computing services and security risk management principles in the financial services sector. The Guidance reminds...more

FFIEC Weighs in on Cybersecurity in Light of Unprecedented Risk of Cyber Threats

Carlton Fields on 10/7/2015

As financial institutions of all sizes continue to face unprecedented cybersecurity risk, the Federal Financial Institutions Examination Council (FFIEC) released its Cybersecurity Assessment Tool. The Assessment is...more

TN Ethics Opinion Approves Lawyers’ Cloud Storage of Client Data

Burr & Forman on 9/25/2015

Tennessee has joined other states in formally approving lawyers’ cloud-storage of client-confidential data. The Board of Professional Responsibility (“BOPR”) held that lawyers ethically may use cloud storage for...more

Under the Thumb: Regulatory Compliance When Outsourcing Cybersecurity Management

Pillsbury - Global Sourcing Practice on 8/27/2015

Managed security services are often a natural “add-on” when outsourcing IT services given that data protection is integral to application development, software as a service, and cloud storage, among other services. More...more

New Guidance for Financial Institution Directors and Officers In Cybersecurity Preparedness

Orrick, Herrington & Sutcliffe LLP on 8/26/2015

Earlier this summer, the Federal Financial Institutions Examination Council (FFIEC) released its highly anticipated Cybersecurity Assessment Tool (Assessment), which is designed to assist financial institutions in identifying...more

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