News & Analysis as of

Technology Regulatory Requirements Financial Institutions

Patomak Global Partners

American Bankers Association Conference Focused on AI

In June 2025, the ABA held its annual Risk and Compliance Conference. The conference heavily focused on how banks are leveraging AI to support front-, middle-, and back-office functions. Conference participants noted that...more

A&O Shearman

EU RTS on subcontracting ICT services supporting critical or important functions under DORA published in OJ

A&O Shearman on

Commission Delegated Regulation (EU) 2025/532 has been published in the Official Journal of the European Union. The Delegated Regulation supplements the Digital Operational Resilience Act (DORA) with regard to regulatory...more

A&O Shearman

ECON draft report on impact of AI

A&O Shearman on

The European Parliament's Committee on Economic and Monetary Affairs (ECON) has released a draft report (dated 14 May) and motion for a European Parliament resolution on the impact of artificial intelligence (AI) on the...more

A&O Shearman

CMORG AI Taskforce releases comprehensive AI Baseline Guidance

A&O Shearman on

The Cross Market Operational Resilience Group's (CMORG) AI Taskforce has released its AI Baseline Guidance Review (dated January 2025), accompanied by a press release. The CMORG AI Taskforce conducted a baseline review of...more

GeoDataVision

Third-Party Risk The competitive world of banking struggles to keep up with technological advances, particularly in a regulatory...

GeoDataVision on

In this podcast, the hosts discuss the importance of managing third-party risk for financial institutions. They highlight how institutions rely on external providers for technological innovation and operational support, but...more

A&O Shearman

Wolfsberg Group guidance supplementing payment transparency standards

A&O Shearman on

The Wolfsberg Group has published guidance on payment transparency roles and responsibilities to supplement the Wolfsberg Group Payment Transparency Standards. The guidance discusses roles played by key actors in a payment...more

BCLP

Managing Technology Supply Chains: What the Advent of the UK’s Critical Third Party Regime Means for Financial Services Firms and...

BCLP on

The FCA, PRA, and Bank of England have published their finalised critical third party (CTP) rules (and accompanying guidance) in PS24/16 Operational resilience: Critical third parties to the UK financial sector....more

Perkins Coie

CFPB Finalizes Proposed Open Banking Rule on Personal Financial Data Rights

Perkins Coie on

Background on Open Banking and the CFPB - The Consumer Financial Protection Bureau (CFPB) recently finalized a rule on personal financial data rights (Rule), implementing Section 1033 of the Consumer Financial Protection Act...more

A&O Shearman

Bank of England Speech on Artificial Intelligence and Financial Stability

A&O Shearman on

The Bank of England has published a speech by Sarah Breeden, BoE Deputy Governor, Financial Stability, on AI and financial stability. In the speech, Ms. Breeden explores the novel features of Generative AI, and how financial...more

BCLP

The EU’s Digital Operational Resilience Act 2022/2554 (DORA)

BCLP on

Long IT sub-contracting chains can make it hard for financial institutions to understand the vulnerabilities in their IT estate and the location of key functions (where these may be located in entities who do not have a...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Regulators Publish Approaches to AI Regulation in Financial Services

On 22 April 2024, the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Bank of England published their strategic approaches to regulating AI in response to the UK government’s July 2022 AI...more

Skadden, Arps, Slate, Meagher & Flom LLP

CPPA’s First Enforcement Advisory Focuses on Applying Data Minimization Principles to Consumer Requests

On April 2, 2024, the Enforcement Division of the California Privacy Protection Agency (CPPA) issued Enforcement Advisory No. 2024-01. This first-ever enforcement advisory focuses on promoting compliance with California...more

Ward and Smith, P.A.

Retaining North Carolina's Booming Virtual Currency Industry

Ward and Smith, P.A. on

North Carolina rightfully regards itself as a leader in innovation and as a hub for technology—it hosts Research Triangle Park and world-renowned universities, and according to the NCTech’s 2018 State of Technology Industry...more

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