A Ringside View
Sitting with the C-Suite: Identifying Opportunities to Leverage Human Capital
Outsourcing Fuels The Future Of Oil & Gas
Frenemies: Gaining Efficiency Through Shared Services
FCPA Compliance and Ethics Report-Episode 146-David Simon on Foley's Global Risk Management Platform
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
Solvency II is organised around three core pillars of prudential regulation, which ensure the safety and soundness of (re)insurers, in line with the scale, nature and complexity of their business: - Pillar One focuses on...more
Through strategic outsourcing, companies in the financial services sector can improve the quality of services they offer to clients and increase internal operations by reducing inefficiencies—all while saving costs in key...more
On 8 February 2023, the Bank of England published a Policy Statement on outsourcing and third party risk management in financial market infrastructures (FMIs). The Policy Statement provides feedback to three previous Bank...more
EU-Kommission, Parlament und Rat treten in die entscheidende Phase ihrer Beratungen über eine Neufassung der AIFM- und der UCITS-Richtlinie ein. Änderungen sind insbesondere bei den Themen Auslagerung, Darlehensfonds und...more
On the 22 November 2022, the European Banking Authority (“EBA”) published its final Guidelines on the use of remote customer onboarding solutions for credit and financial institutions (the “Remote Onboarding Guidelines”). ...more
This briefing is the third in a series of briefings by Walkers on the Lending, Credit and Finance (Bailiwick of Guernsey) Law, 2022 (the “LCFL”), and provides an overview of the licensing regime applicable to “financial firm...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
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
The International Organization of Securities Commissions has published an updated Principles on Outsourcing for regulated market participants in the securities markets. The updated Principles are based on IOSCO’s 2005...more
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
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
An interest group of EU banks that was formed to assist European financial institutions with their use of public cloud technology recently suggested model terms for the compliant use of cloud technology. On May 17, 2021,...more
The UK Financial Conduct Authority (FCA) has published its findings on an extensive review into the factors which determine failure or success when implementing technology change in the financial services sector....more
The Situation: On June 3, 2020, the European Securities Market Authority ("ESMA") published a consultation paper on Outsourcing to Cloud Service Providers ("Proposed Guidelines"), which will apply to any institution under the...more
We previously wrote about the New York Department of Financial Services (NYDFS) demand that all regulated companies file descriptions of their preparedness plans, financial risk management plans and assessments, in connection...more
The final guidelines create new obligations for insurers that will impact cloud outsourcing arrangements. On 6 February 2020, the European Insurance and Occupational Pensions Authority (EIOPA) published its final...more
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
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
New guidelines reflect the rise of outsourcing by financial institutions in a new era of disintermediation and technological change. In February 2019, the European Banking Authority (EBA) published its final guidelines on...more
The guidelines create new obligations for financial, payment, and electronic money institutions that will impact cloud outsourcing and deployment of FinTech. On 25 February 2019, the European Banking Authority (EBA)...more
The European Banking Authority has published revised Guidelines on outsourcing arrangements. The guidelines are intended to update and replace outsourcing guidelines issued in 2006 (by the EBA's predecessor, the Committee of...more
In “Enterprise-Wide Risk Assessments Have Never Been More Important” (Thomson Reuters Regulatory Intelligence, 17 Jan. 2019), authors Tom Bock, head of K2 Intelligence’s Regulatory Compliance practice, and Darren Matthews,...more
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
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