News & Analysis as of

Third-Party Service Provider Financial Services Industry United Kingdom

K&L Gates LLP

Digital Operational Resilience in the Financial Services Sector: EU and UK Update

K&L Gates LLP on

With under six months to go until the European Union Digital Operational Resilience Act (DORA) becomes applicable on 17 January 2025, DORA implementation projects are running full steam ahead. DORA lays down uniform...more

BCLP

Joining the Dots - Will the UK’s New Critical Third Party Rules Truly Move the Dial for Financial Institutions?

BCLP on

The announcement in 2021 of the intention to implement new rules directly targeting the types of tech service provider relied on by most financial institutions may be a necessary corrective given the heavy market...more

Cadwalader, Wickersham & Taft LLP

Financial Conduct Authority Publishes Draft Voluntary Code of Conduct for ESG Ratings and Data Product Providers

On July 5, an industry-led working group convened by the UK’s financial regulator published a draft voluntary code of conduct for ESG data and ratings providers (the Code). The Code would apply to all companies based in the...more

WilmerHale

UK Regulators Proposed Framework for Critical Third Parties

WilmerHale on

Financial services firms are increasingly reliant upon third-party companies to provide important services, ranging from cloud services and data analytics to machine learning and cash distribution. As these third parties...more

Perkins Coie

Fintech Legal Report - July 2022 #2

Perkins Coie on

Dem Senators Urge CFPB Focus on P2P Payment Platforms - A group of Democratic U.S. senators sent a letter to the Consumer Financial Protection Bureau (CFPB) urging the agency to take a harder look at peer-to-peer (P2P)...more

Hogan Lovells

Payments regulatory news, June 2020

Hogan Lovells on

Request to Pay: Pay.UK launches rules and standards framework - Pay.UK has launched the Request to Pay Framework — the message standards, rules, and terms and conditions for the development of Request to Pay services. The...more

White & Case LLP

Operational resilience, third party risk management and impact tolerance in the time of Coronavirus

White & Case LLP on

On 5 December 2019 the Bank of England (Bank), UK Prudential Regulation Authority (PRA) and UK Financial Conduct Authority (FCA) published coordinated consultation papers and policy on new requirements to strengthen...more

Latham & Watkins LLP

Trends in Outsourcing Regulation and Supervision in Financial Services

Latham & Watkins LLP on

Insights from Latham’s flagship event: Managing the risk and promise of digitisation in financial services - The financial services industry is leading the way in outsourcing, with contract values in excess of US$10.7...more

A&O Shearman

UK Payments Regulator Paper on Use of Data in the Payments Industry

A&O Shearman on

Following the publication of a discussion paper in June 2018, the U.K. Payment Systems Regulator has published its response paper on the issue of data in the payments industry. The discussion paper outlined three potential...more

Latham & Watkins LLP

Outsource Service Providers to the Financial Services Industry - A Growth Sector for Buyout Firms

Latham & Watkins LLP on

Technology outsourcing by financial institutions (FIs) has increased in recent years as FIs look to the latest innovations to improve their day-to-day business processes and to reduce costs. FIs outsource key functions to a...more

WilmerHale

The European, Middle Eastern and African Investigations Review 2016: United Kingdom: handling internal investigations

WilmerHale on

With so much potentially at stake, the initial steps and strategic decisions taken in any company investigation are critical to setting the tone for a focused, credible and effective inquiry. This is paramount not only for...more

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