In the first edition of our regular update for the banking industry we look at topics including ECB concerns around the use of the cloud by fintech institutions, cyber incident reporting and regulatory co-operation post-Brexit.

ECB's cyber incident reporting requirements individualised for 121 banks

The European Central Bank (ECB) imposed new individualised cyber incident reporting requirements on 121 banks earlier this summer, Out-Law.com can reveal.

New report urges firms to tackle financial security 'gender gap'

Financial firms must seize the opportunity to better engage female consumers, who are facing a financial security "gender gap" as a result of workplace inequalities and underinvestment, experts have said.

FCA chief calls for continued cooperation in financial sector post-Brexit

The chief executive of the UK's Financial Conduct Authority (FCA), Andrew Bailey, has called for close cooperation between regulatory bodies to ensure continuity of service for financial institutions after Brexit. 

FCA confirms 'slippage' pension transaction costs reporting method

Fund managers will be required to respond to requests for transaction costs from pension schemes from next year, the Financial Conduct Authority (FCA) has announced.

Labour pledges cap on credit card repayment fees

The Labour Party has promised to introduce a cap on credit card interest payments should it come back into power, saying it will apply the same rules for credit cards as for payday loans.

ESAs aim to standardise guidelines on money laundering prevention

Competent authorities and payment service providers across the EU should agree on how to prevent the abuse of funds transfers for terrorist financing and money laundering purposes, the Joint Committee of the three European Supervisory Authorities (ESAs)...

Brexit "lowering productivity growth" as Moody's downgrades UK credit rating

Ratings agency Moody's has cut the UK's long-term credit rating from Aa1 to Aa2, changing the outlook from stable to negative, as extensive research indicates the prospect of Brexit is having a drag on the country's productivity.

ECB raises concerns over use of cloud by fintech institutions

Financial technology, or fintech, banks should think more seriously about the risk of using cloud computing when applying for banking licences, the European Central Bank (ECB) has said.

Why professional services firms are failing, and what administrators need to know

ANALYSIS: Why are large professional practices entering into insolvency and what do restructuring advisors and lenders need to look out for when they are dealing with a professional practice in financial difficulty?

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