The UK’s Financial Conduct Authority has recorded a 138% increase in technology outages at financial firms and an 18% rise in cyber incidents, according to one of the regulator’s top officials.
“On the basis of the data that the FCA is currently collecting, we see no immediate end in sight to the escalation in tech and cyber incidents that are affecting UK financial services,” said Megan Butler, executive director of supervision at the FCA, in a speech yesterday. Butler, who was discussing the
- Bank risk manager of the year: UBS
- Asia moves: BlackRock picks new Asia head, Credit Suisse boosts regional solutions, and more
- We need a different approach to supervisory stress-testing
- People moves: Asia hires at Credit Suisse, new UBS data role, NatWest takes UBS's Duclos, and more
- Risk solutions house of the year: HSBC