Regulation

FCA Senior Management Consultation – Recruitment nightmare for Information Technology

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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 […]

Regulation

FCA Senior Management Consultation – Information Technology is a certifiable function!

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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 […]

Regulation

Only 30% say Cloud solutions meet the minimum compliance requirements for financial service providers

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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 […]

Regulation

FCA Senior Management Consultation – Interesting implication for IT outsourcing

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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 […]

Regulation

European Commission consultation on FinTech – Good news for RegTech

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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 […]

Regulation

European Commission consultation on FinTech – Bad news for the Cloud

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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 […]

Data Breach

Three men made $4m by Hacking US M&A Lawyers

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The men are alleged to have obtained inside information from two firms by hacking their networks. Once they obtained access to the law firms’ networks, they targeted email accounts of law firm partners who worked on high-profile M&A transactions. That information was used to purchase stock in five companies before public announcements were made. By […]

Regulation

The rise of the Virtual CTO

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I’ve just found this piece from HFM about Virtual CTO’s. HFM-Tech-magazine IP Sentinel offer a range of virtual CTO (vCTO) services to Fund Managers to help them, amongst other things,  understand IT, mange their risk, assist in Investor Due Diligence, Manage SYSC8 KPI’s, help with regulatory visits. We have a framework of Policies & Procedures that […]