Vendors Feel Heat as Regulators Pile Pressure on Third-Party Resiliency
UK regulators have proposed new laws to clamp down on operational resilience and third-party risk, pushing fintechs to put some skin in the game.
Third-party providers could get a taste of what it’s like to be as heavily regulated as their clients, under newly proposed rules in the UK covering operational resilience and outsourcing that are intended to zero in on third- and fourth-party risk.
The new laws will require fintech firms to scrutinize their control frameworks for dealing with system failures—which includes mapping out systems, identifying important business services, and establishing impact tolerance.
Vendors will have to
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Regulation
Waters Wavelength Ep. 299: ACA Group’s Carlo di Florio
Carlo di Florio joins the podcast to discuss regulations.
IEX, MEMX spar over new exchange’s now-approved infrastructure model
As more exchanges look to operate around-the-clock venues, the disagreement has put the practices of market tech infrastructure providers under a microscope.
FCA to publish bond tape tender details by end of January
Market participants must wait a month longer than expected for the regulator’s draft tender document, which will see several bidders vie for the chance to build the UK’s long-awaited consolidated tape for bonds.
Too ’Berg to fail? What October’s Instant Bloomberg outage means for the industry
The ubiquitous communications platform is vital for traders around the globe, especially in fixed income and exotic derivatives. When it fails, the disruption can be great.
New data granularity rules create opportunities for regtech providers
As evidence, Regnology increased its presence in North America with the addition of Vermeg's Agile business—its 8th acquisition in three years—following a period of constriction and consolidation in the market.
Bond tape hopefuls size up commercial risks as FCA finalizes tender
Consolidated tape bidders say the UK regulator is set to imminently publish crucial final details around technical specifications and data licensing arrangements for the finished infrastructure.
The Waters Cooler: A little crime never hurt nobody
Do you guys remember that 2006 Pitchfork review of Shine On by Jet?
Removal of Chevron spells t-r-o-u-b-l-e for the C-A-T
Citadel Securities and the American Securities Association are suing the SEC to limit the Consolidated Audit Trail, and their case may be aided by the removal of a key piece of the agency’s legislative power earlier this year.
