FCA Urges Finance Firms To Strengthen Testing Of New Tech

Law360, London (February 5, 2021, 4:44 PM GMT) -- The U.K.'s finance watchdog said Friday that a review of technology failures in the banking sector has shown that firms need to improve oversight and more rigorous testing of new IT programs as they introduce novel technology.

The Financial Conduct Authority said it conducted a review of how the sector deals with change in fintech and what happens when the introduction of new technology goes wrong. The review found that failed adaptation to technological changes is one of the major causes of operational problems for finance firms and their customers.

"Although many changes are successful, this review reveals that failed technology...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!