Topic: Operational resilience

Canadian regulator demands banks produce “comprehensive” plans for technology and cyber risk

Canada’s financial regulator will require banks to set up plans for technology development and cyber security, according to its latest guidance.

14 July 2022

UK regulators’ horizons reach the cloud under Treasury plans

The UK government has proposed expanding its financial regulators’ powers over third party providers including cloud-based data centres.

15 June 2022

Operational resilience mapping needs rapid sophistication, PRA’s Mackinnon tells banks

A senior figure at the UK’s Prudential Regulation Authority has told banks that operational resilience should now be a “major consideration” in their investment programmes and that their mapping should “rapidly become more sophisticated”.

06 June 2022

Canadian regulator “misses opportunity” with bank climate proposals

Canada’s financial regulator has released proposals to ramp up climate risk disclosures and stress testing, prompting criticism it has missed its opportunity to specify alignment with net zero targets.

30 May 2022

Greensill litigation may take five years to conclude, says Credit Suisse

Credit Suisse has told shareholders that some investors may not be able to recover money lost in the Greensill collapse, and that litigation to recoup funds could take “around five years”.

06 April 2022

Fintechs should invite the regulators in

Tony Brown, head of compliance and money laundering reporting officer of IFX Payments, argues that regulatory staff need to be upskilled to make regulation work for the fintech industry.

23 March 2022

The road ahead: GBRR's predictions for 2022

Climate. Merger policy. Enforcement. Cybersecurity and AI. Gender and diversity. Fintech, crypto and decentralised finance. 2022 is set to see advances from regulators across the world – but what can banks and their advisors expect? GBRR spoke to leading practitioners across the US, Europe, the UK, Russia and the Asia Pacific for their predictions for the year ahead in banking regulation.

07 February 2022

Mizuho CEOs resign after regulatory interventions

The CEOs of Mizuho and its parent group are set to resign, after Japan’s Financial Services Agency and finance ministry took administrative action against the bank for repeated operational failures and breaches of foreign exchange regulations.

29 November 2021

Mizuho to get direct oversight after string of IT failures

Japan’s Financial Services Agency has assumed unprecedented direct oversight of Mizuho’s US$4.12 billion IT system, following a series of technical failures over the course of the year.

23 September 2021

UK-based foreign banks face new information rules

The Prudential Regulation Authority has made changes to proposed regulations for international banks operating in the UK after consultation feedback urged against burdensome information requirements.

28 July 2021

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