The guidelines aim to promote the adoption of robust practices for managing technology risks in the financial sector. By Farhana Sharmeen and Marc Jia Renn Tan On 18 January 2021, the Monetary Authority of Singapore (the MAS) issued revised guidelines (the Guidelines) to take into account the fast-changing cyber threat landscape and financial institutions’ increased … Continue Reading
The proposal would require financial institutions to use certain categories of information for non-face-to-face verification before undertaking transactions or requests. By Farhana Sharmeen and Gen Huong Tan In November 2020, the Monetary Authority of Singapore (the MAS) published a consultation paper proposing to issue a Notice on Identity Verification (the Notice) that would require financial … Continue Reading
Insights from Latham’s flagship event: Managing the risk and promise of digitisation in financial services. By Fiona Maclean, Stuart Davis, and Alistair Wye In a bid to keep pace with rapid advances in cloud adoption across financial services, regulators have published a raft of new guidance in the past year. Most recently, the European Insurance … Continue Reading
GDPR and PSD2 are two legal initialisms that have both generated a great deal of press coverage in recent months, but they are seldom considered together. By Christian F. McDermott, Calum Docherty and Brett Carr There were around 122 billion non-cash payments in the European Union (EU) in 2016, with card payments accounting for 49% … Continue Reading
FCA Chair hints that new regulation addressing data ethics in the FinTech space may be on the horizon. By Nicola Higgs, Fiona Maclean and Terese Saplys Will societies of the future be ruled by algocracy, in which algorithms decide how humans are governed? Charles Randell, Chair of the Financial Conduct Authority (FCA) and Payment Systems … Continue Reading
