Duration: 2 hours
Timings: 09.00-11.00 (Virtual delivery)
ABOUT THIS VIRTUAL EVENT
Join our next virtual operational resilience briefing session which will provide a complete review of the Prudential Regulation Authority’s final Supervisory Statement in outsourcing and third-party risk and what it means for regulated entities.
This session will provide insight into all aspects of the PRA’s SS2/21 Outsourcing and third-party risk management which was published in March, including:
- The relevant timelines for compliance and how it relates to other regulatory frameworks including the requirements of the Financial Conduct Authority
- How the Supervisory Statement compares to existing regulatory requirements and EU retained law and guidelines (including the European Banking Authority Guidelines on Outsourcing)
- The extent to which financial service providers need to renegotiate or update existing contracts with technology and other providers to comply with the Supervisory Statement
- Substantive areas including:
- What is outsourcing and ‘material outsourcing’ from a PRA perspective and when will its rules apply?
- How does the PRA statement change due diligence and risk assessment expectations?
- New or revised data and systems security requirements
- Access, audit and information rights requirements
- Sub-outsourcing requirements
- Business continuity and exit plans
- General contractual requirements to consider
- What it says about concentration risk
- What is says about the relevance of third-party providers in keeping within impact tolerances.
Partner
A true sector focus: going beyond purely legal guidance
Pinsent Masons is a full-service international law firm. We respond to the pressures and opportunities facing businesses globally with legal excellence and innovation.
With office locations on four continents, wherever your commercial interests take you, we have the footprint and expertise to provide support. We recognise that giving a first class service goes beyond just legal excellence. A deep understanding of local cultural and commercial issues, and an innovative approach, underpins all of our advice. We understand the key political, economic, commercial and regulatory issues, helping to minimise risk and maximise opportunities.
We have market-leading expertise in five key global sectors:
- Technology, Science & Industry
- Energy
- Financial Services
- Infrastructure
- Real Estate.
We provide a strong local presence with an excellent understanding of the local market, backed up by our innovative technologies and global resources.
