Existing gaps in the current structure and recent efforts for a better regulatory framework are not enough to strengthen operational resilience in the financial services sector against cyber attacks and make the EU ready for the digital future. Just this morning the German regulator BaFin together with the German Federal Cyber Security Authority a report …
Cybersecurity and the Need for Harmonisation of Rules Read More »
Only a few weeks ago, the Bank of England (the Bank), Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) published a shared policy summary and co-ordinated consultation papers (CPs) on new requirements to strengthen operational resilience in the financial services sector. It came on the back of a number of statements of leading UK …
A busy year is coming to an end: British and EU policy continued to be dominated by Brexit, with the EU welcoming a new parliament following elections that marked a further shift to the right, but for the first time we see women at the helm at both the ECB and at the European Commission. …
The Bank of England (the Bank), Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have today published a shared policy summary and co-ordinated consultation papers (CPs) on new requirements to strengthen operational resilience in the financial services sector. Building the operational resilience of firms and Financial Market Infrastructures (FMIs) is a shared priority for …
Building operational resilience: impact tolerances for important business services Read More »
Be it the recent surge in cyber-attacks on financial institutions, the technical glitches that lead to flash crashes on trading venues, high numbers of fraudulent behaviour or simply the complexity of todays systems that comes with a significant probability of instability – the management operational risk has become one of the key priorities at financial …
Managing Operational Risk in the Age of Digital Innovation Read More »
The Swiss Financial Market Supervisory Authority FINMA is consolidating its corporate governance, internal control system and risk management supervisory requirements for the banking sector. This consolidation will take the form of a single circular incorporating findings from the financial market crisis and revised international standards. The consultation on this revision runs until 13 April 2016. …
Swiss regulator changes corporate governance requirements for banks Read More »
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