Far Eastern International Bank said hackers compromised its network and transferred nearly US$60 million overseas Hackers managed to steal $60m from the Far Eastern International Bank in Taiwan by infiltrating its computers last week. However, most of the money has been recovered, and two arrests have been made. Far Eastern on Friday said it reported […]
In a response to an FOI Request asking “The total number of cyber incidents (both attacks and those attributable to human error) suffered (to your knowledge) by the private equity firms that you regulate” The FCA doesn’t hold data for Private Equity particularly but does for firms with Managing Investment permissions and the results are […]
In a response to an FOI Request that asks the FCA for: “The number of reported data breaches for financial advisors, insurance, lenders, pensions, total (of these sectors), for each month from March 2013 up to March 2017” How many breaches did the IFA sector make in the 4 years that covers? Two There were, […]
In the Individual Accountability: Extending the Senior Managers & Certification Regime to all FCA firms consultation the FCA has suggested that IT should be classified as a Certified Function. This has implications to the recruitment process for individuals who are working in a Certified Function. the proposed rules are as follows Which is a little bit more […]
In the Individual Accountability: Extending the Senior Managers & Certification Regime to all FCA firms consultation the FCA has a concept of Significant Management Certifiable Functions for important functions that do not have a dedicated Senior Manager. This proposed rule is that there is a chain of responsibility from the function to the Senior Manager that must […]
On 23 March 2017, the European Commission launched a public consultation entitled “FinTech: a more competitive and innovative European financial sector”. The consultation closed on 22 June 2017. The purpose of the consultation was to seek input from stakeholders to further develop the Commission’s policy approach towards technological innovation in financial services. 226 firms responded […]
In the Individual Accountability: Extending the Senior Managers & Certification Regime to all FCA firms consultation the FCA makes an interesting point about IT outsourcing which implies that IT is part of the Senior Management job function. If that is the case then the obligations on Senior Managers is to actually understand IT and the implications […]
On 23 March 2017, the European Commission launched a public consultation entitled “FinTech: a more competitive and innovative European financial sector”. The consultation closed on 22 June 2017. The purpose of the consultation was to seek input from stakeholders to further develop the Commission’s policy approach towards technological innovation in financial services. 226 firms responded […]
On 23 March 2017, the European Commission launched a public consultation entitled “FinTech: a more competitive and innovative European financial sector”. The consultation closed on 22 June 2017. The purpose of the consultation was to seek input from stakeholders to further develop the Commission’s policy approach towards technological innovation in financial services. 226 firms responded […]
Published on: Aug 4th, 2014 Cordium, a leading global provider of compliance consulting, accounting, tax and software to the financial services industry, has entered into a partnership with IP Sentinel, the specialist provider of IT solutions, cybersecurity, monitoring and audit services to regulated entities. Cordium and IP Sentinel have entered into this partnership due to […]