Publication
Banks outsourcing to the cloud: The economic drivers and regulatory implications
The financial services sector is becoming increasingly reliant on cloud service providers (CSPs) to fulfil its growing data processing and storage needs.
Private Members’ Bill introduced on WASPI Compensation issues
United Kingdom | Publication | March 2025
A Private Members’ Bill was introduced by Stephen Flynn (SNP) on March 5, 2025, requiring the Secretary of State to publish measures to address the findings of the Parliamentary and Health Service Ombudsman in its report entitled “Women’s State Pension age: our findings on injustice and associated issues”.
The Bill also requires the Secretary of State to publish proposals for a compensation scheme for so-called “WASPIs” (Women Against State Pension Inequality) born between April 6, 1950, and April 5, 1960, inclusive who have been affected by increases in the state pension age.
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Publication
Hopcraft
On August 1, 2025, the UK Supreme Court delivered its long-awaited judgment in Hopcraft v Close Brothers Limited and on 3 August the FCA announced it would consult on a redress scheme.
Publication
Another contract remediation exercise for EU financial entities?
The European Banking Authority (EBA) is currently consulting on its draft guidelines on the sound management of third party risk (Draft Guidelines), which are intended to replace the 2019 guidelines on outsourcing arrangements (2019 Guidelines).
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