By Jeanette Burgess
Latest from the FCA, including Tesco Bank cyber attack fine and PSD2 rules and guidance consultation. Other sector news.
Financial Conduct Authority (FCA)
In a speech delivered at the FCA’s Annual Public Meeting on 11 September 2018, Chief Executive Andrew Bailey spoke, among other things, about operational risks – a new source of risk to the FCA’s objectives. He touched on the four themes of operational resilience (including cyber risk), the impact of technological change and innovation, the challenge of financial crime, and data issues (which he referred to as “the fastest rising risk on our landscape”). In his speech at the same event, FCA Chair Charles Randell discussed the impact of technological developments and the FCA’s serious approach to financial crime.