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16th Jan 2025 | Events
Charlotte Pope-Williams is speaking on UK Operational Resilience & Critical Third Parties – The New Regulatory Regime for MBL Seminars.
On 12 November 2024, the Bank of England, the Prudential Regulation Authority and the Financial Conduct Authority implemented new rules which are designed to address the risks presented to the UK financial sector by critical third parties (‘CTPs’).
The UK’s regulatory bodies have observed that firms and financial market infrastructures (‘FMIs’) have become increasingly reliant on the services of third parties.
The regulators consider that disruption to or failure of a third party, such as a cyber-attack or a power outage, could affect consumers and firms and potentially threaten the financial stability and confidence of the UK.
These new CTP rules have been produced in the context of the UK financial services regulators implementing rules for financial services firms in respect of operational resilience, which come into force in March 2025.
There is also a wider international effort to address matters of operational resilience and CTPs, for example the European Union’s Digital Operational Resilience Act.
The purpose of this new virtual classroom seminar is to examine the new regulatory regime for CTPs; to place the new CTP regime in its national and international financial services regulatory regime; and to provide some information about the implementation of the CTP regime by the UK’s regulatory bodies.
Date: 22 April 2025
Time: 9am – 10.30am
Location: Virtual
Visit the MBL website for further information.
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