Topic: Operational resilience

SEC proposes cyber risk reform package

The SEC has proposed new requirements for firms’ cybersecurity and data breach risk management and relevant disclosure.

23 March 2023

BoE folds wholesale CBDC into RTGS revamp

The Bank of England has announced its roadmap for a revamp of its real time gross settlement service, folding its ambitions for a wholesale CBDC into the plans.

15 February 2023

FMIs get a year for new UK outsourcing rules compliance

The UK’s central bank has given financial infrastructure institutions 12 months to comply with newly finalised supervisory expectations for outsourcing their core functions.

13 February 2023

What’s in store for 2023? Part three: regional issues

Some of the regulatory issues banks will face in 2023 cut across borders, but not all. In this final part of GBRR’s examination of the year to come, we asked practitioners in the US, UK, Singapore, and Hong Kong how local issues will play out over the next 12 months.

18 January 2023

CROs rank cybersecurity risks over climate and financial, IIF-EY survey finds

The IIF and EY’s latest survey of banks’ chief risk officers has seen over half name cybersecurity as their biggest concern for 2023 – but shows a marked drop in concerns over climate and financial risk.

12 January 2023

PRA prioritises operational resilience for 2023

As the UK’s prudential regulator publishes supervisory priorities with an “unprecedented focus” on the banks’ technological side, practitioners tell GBRR that banks might be faced with challenges in keeping up with the scale and pace of change.

12 January 2023

Indonesia’s OJK issues new cybersecurity rules after attacks escalate

Indonesia’s financial regulator has issued banks with a new cybersecurity framework amid increasing attacks on the country’s financial system – but practitioners warn further updates will be necessary to keep pace.

10 January 2023

TSB accepts “eye-watering” penalty over botched IT migration

UK bank TSB has accepted an eight-figure fine for operational risk management and governance failures connected to an IT migration following its takeover by Spanish banking group Sabadell, labelled a "stark reminder of the consequences of badly-executed change".

21 December 2022

“An early Christmas gift”: practitioners prepare for DORA implementation

As the world’s major financial centres push through reforms to their digital operational resilience frameworks in earnest, practitioners say the EU’s Digital Operational Resilience Act is set to be a “cornerstone” of the European regulatory framework with implications for financial firms and technology providers alike.

13 December 2022

EBA’s 2023 supervisory programme shows Ukraine and covid-19 legacy impact

The European Banking Authority has increased its emphasis on operational resilience and technology in its supervisory plans for 2023, due to “a new episode of economic uncertainty” caused by Russian aggression against Ukraine and the legacy of the covid-19 pandemic.

02 November 2022

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