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Risk Management Industry News for FCA Regulated Businesses

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Banking, Operational Resilience

TSB’s IT disaster highlights need for greater operational resilience

A recent report from a top law firm pulls no punches when it comes to analysing what went wrong at TSB Bank after an IT meltdown resulted in nearly 1.9 million customers being locked out of their accounts. The problems were connected to a migration...

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Regulation, Banking

Regulator steps up pressure on the peer-to-peer sector

This year has seen the collapse of two peer-to-peer lenders in the UK and as tougher regulation sets to come into force on 9 December, regulators will not want to see any further impact on market confidence. Last month, FundingSecure entered...

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Regulation, Banking

IT failures – why it’s time for banks to get their houses in order

Is it any wonder that the Financial Conduct Authority and the Treasury select committeewant to see banks improve their IT resilience? More than seven million people in the UK were left unable to use their credit or debit card because of IT failings...

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FCA, Banking

Packaged bank accounts – has improved risk management averted a crisis?

For some years, the media has labelled packaged bank accounts as ‘the next PPI’ suggesting this could be yet another regulatory scandal of epic proportions. For risk managers in retail banking, it must have felt like sitting on a tinderbox.

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