News

Search Filters

Advanced Search Advanced Search
Date range:

Showing 1 - 10 of 1029 matches filtered by 'Governance'

  • BIS/IOSCO: Implementation monitoring of the PFMI – Level 3 assessment on financial market infrastructures’ cyber resilience

    29/11/2022
    The report reviews the state of cyber resilience (as of February 2021) at a sample of 37 FMIs from 29 jurisdictions.... The report finds a reasonably high adoption of the 2016 guidance on cyber resilience for financial market infrastructures by FMIs. but is concerned that a small number of FMIs are not fully meeting expectations regarding the development of cyber response and recovery plans to meet the two-hour recovery time objective. Other concerns relate to shortcomings in established response and recovery plans; a lack of cyber resilience testing after a significant system change; a lack of comprehensive scenario-based testing; and inadequate involvement of relevant stakeholders in testing of their responses.
    Support Information
    Show more Show less
  • Treasury Sub-Committee on Financial Services: Regulation Correspondence

    24/11/2022
    The Sub-Committee has published (i) correspondence on new proposals for banks to be required to reimburse scam victims (PSR); (ii) responses... from FCA on proposals to broaden retail access to long-term asset funds; (iii) correspondence with PRA on proposals to change rules around unvested pay for material risk takers. With regard to (i), the Sub-Committee has invited PSR, Pay.UK and FOS to an evidence session on the proposals.
    Support Information
    Show more Show less
  • FCA: MS19/1: Credit Information Market Study Interim Report and Discussion Paper

    22/11/2022
    This report sets out the interim findings from FCA’s credit information market study and sets out a range of potential remedies... (see Annex 6) and a proposed phasing of them for discussion. FCA is seeking views on findings and potential measures to: reform industry governance arrangements and agree a set of priorities for the industry over the next three years; improve the quality and coverage of credit information; enable greater competition and innovation through potential changes to data access arrangements and more timely reporting of key metrics, and support consumers to access and dispute credit information. Responses are required by 24 February 2023. FCA expects to publish a final report in Q3 2023 which will set out final findings and report back on progress made towards the revised industry governance arrangements.
    Support Information
    Show more Show less
  • BoE/FCA/PRA: DP5/22 - Artificial intelligence and machine learning

    11/10/2022
    This DP considers how existing sectoral legal requirements and guidance relating to UK financial services apply to the use of AI... in UK financial services to support consumer protection, competition, the safety and soundness of individual firms, market integrity, and financial stability. BoE is particularly interested in the additional challenges and risks that AI brings to firms’ decision-making and governance processes, and how those may be addressed through SMCR and other existing regulatory tools. Responses are required by 10 February 2023. FCA has published a research note on machine learning (second link below).
    Support Information
    Show more Show less
  • FCA: Letter to DWP

    06/10/2022
    FCA has published the text of a letter to DWP which provides an update on the regulator’s response to the Taskforce... on Pension Scheme Voting Implementation’s report and recommendations. Amongst other matters, FCA notes that it is to undertake a review of asset manager voting policies to better understand the state of play in the market.
    Support Information
    Show more Show less
  • BIS: Safeguarding operational resilience

    25/08/2022
    This FSI briefing considers operational resilience through a macroprudential lens, including progress in developing frameworks for operational resilience and the macroprudential... concerns of operational resilience.
    Support Information
    Show more Show less
  • FCA: Alternatives supervisory strategy

    09/08/2022
    FCA has published its portfolio letter to alternative asset managers, setting out its supervisory priorities for firms in this sector. ... Specific areas include: investment strategies with inappropriate levels of risk; conflicts of interest; market abuse; culture; ESG.
    Support Information
    Show more Show less
  • FRC: Digital security risk disclosure

    03/08/2022
    This report from the FRC Lab discusses digital security risk disclosure in order to help companies improve the disclosure of digital... security strategies, risks and governance.
    Support Information
    Show more Show less
  • FCA: Remuneration Committees

    02/08/2022
    FCA has published the text of a letter sent to Chairs of Remuneration Committees of proportionality level one banks, building societies... and PRA designated investment firms which sets out its expectations for 2022. Specific areas discussed include: culture and accountability; the new consumer duty; ESG; operational resilience and diversity/inclusion.
    Support Information
    Show more Show less