Operational Resilience within financial services
A seismic outage for TSB Bank led to fines of £48 million for operational risk management and governance failures in 2022. Upon acquisition, the bank attempted to transfer its data between systems over the course of three years. And while the data transfer was successful, the system switch led to severe in-branch errors, with many customers also locked out of their online accounts.
Computer Security Day: The role of leadership in protecting data
This Computer Security Day, it is important to recognize that strong leadership drives effective cybersecurity and ensures regulatory compliance.
Transparency continued – The SEC clarifies its examination selection process for broker-dealers
The SEC’s Division of Examinations released a Risk Alert defining the elements it weighs when selecting broker-dealers as examination candidates, illuminating how firms can prepare and refine their compliance efforts.
Social surveillance: The importance of comms capture for social media compliance
In addition to capturing communications channels like email, IM, and SMS, compliance teams must realize the importance of capturing data from social media platforms. To effectively manage widely used applications, firms should consider social surveillance and strategies to curb risks.
Regulatory Wrap Episode #23: Mastering Operational Resilience and Cyber Compliance
In Regulatory Wrap for the week to March 15, Jennie Clarke covers cyber resilience and the regulatory activity taking place throughout the year to protect firms’ safety.
Why cybersecurity is the one to watch for global regulators in 2024
Rapid digitalization and technological innovation have offered a wealth of advantages to financial industry practices by redefining business operations. Though, consequently, the threat to cybersecurity is as present as ever. How have regulators begun to maneuver this pressing matter? And will it be a trend to watch in the coming year?
What can financial services firms learn from the SEC’s X account hack?
With the Securities and Exchange Commission’s X account being hacked and used to share false information, what lessons can firms learn to minimize social media risk?
ECB’s cyber resilience stress tests are on the horizon for 2024
Amidst a series of regulatory conversations spotlighting security, stability, and resilience, the ECB has announced a stress test aimed to assess how financial firms respond when faced with a simulated cyberattack.
Setting the record straight on retention: How to appropriately capture data and fulfill regulatory requirements
It is well known that record retention is central to financial industry operations - but best-practice makes perfect. Our guide will help your organization abide by regulatory requirements and confirm data is being managed, secured, and archived.
Four ways compliance technology mitigates the Fed’s threats to financial system resilience
The U.S. Federal Reserve Board has set out key risks to financial system resilience in 2023. We explore how compliance technology mitigates these risks.