The TM Bulletin: April 2024
Thomas Murray
Global Risk Intelligence | Safeguarding clients and their communities since 1994
As we draw closer to 17 January 2025, the day the Digital Operational Resilience Act (DORA) takes effect, we are still carefully examining the full implications of this regulation from every angle. In this edition of TM Bulletin, we highlight some of the material and in-house knowledge we have available to help your organisation achieve compliance, wherever you are on your DORA journey and whether your organisation is directly affected or just wants to adopt some of the best practices recommended by the regulators.?
We also look at the approaches to T+1 settlement taken in the EU and the UK.
We trust you will enjoy these insights into what our experts and specialist teams have been working on over the last month, and the issues facing our clients.
Regulation | Cyber risk | FMIs
Live webinar: Is anyone truly ready for DORA?
Full implementation of the EU’s Digital Operational Resilience Act (DORA) is?almost upon?us, and so?far?the focus has?largely been?on affected organisations and their preparations for compliance. But how prepared are the competent authorities themselves to enforce DORA’s requirements?
In a live?webinar?on 15 May, Shreeji Doshi , our Director of Cyber Governance, Risk and Compliance, will examine:
Shreeji will also provide recommendations for key actions to be taken now by any organisation that needs to accelerate its DORA compliance programme.
There will be a Q&A session if you have any specific queries?you’d?like to raise.
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FMIs
Analysis: Slow and steady – the EU and UK approach to T+1 settlement cycles
While North America has committed to a tight timeline for the adoption of T+1 settlement, not all markets have followed its lead. In the EU and the UK, especially, a more measured and considered approach has been taken.
In this latest instalment of our series on T+1 settlement implementation around the world, Jim Micklethwaite , Panagiotis Kiziris and Morgan Simmonds look at why move to T+1 is ‘a more complicated and nuanced proposition’ for these markets, and what the next steps are likely to be.
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Regulation?|?Funds?|?Cyber risk
Aussie regulator focuses on cyber risk: APRA Standard CPS 234
The Australian Prudential Regulation Authority (APRA) has issued a new standard, designed to enhance the cyber and information security capabilities of Australia’s financial services industry.?Adam Zani?explains who the Standard will affect,?what the penalties are and how firms can move now to achieve compliance.
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FMIs?|?Capital markets ?
Insight: Nurturing development – the road ahead for Africa’s capital markets
African capital markets have undergone significant growth and transformation over the past few decades. They play a crucial role in mobilising savings,?facilitating?investment, and supporting economic development across the whole continent. While African capital markets vary in size, complexity, and regulatory frameworks, they share some common trends and characteristics.
Using Uganda and Ghana as case studies,?Caroline McCreadie, Director, Cash in our Global Network Management team examines how the financial market landscape in Africa is changing.
领英推荐
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FMIs |?Regulation?|?Cyber risk ??
Podcast: The million-dollar question – Europe’s FMIs get ready for DORA
DORA Talks is a new, five-episode podcast series in which experts from the worlds of banking, funds, risk management, and cyber security analyse the impact of DORA. In episode two,?Panos Kiziris?and?Shreeji Doshi?discuss?some of the specific challenges faced by FMIs when it comes to DORA, especially in smaller markets, and Panos invites Shreeji to make a wager on whether the regulators will offer any 11th-hour extensions on the compliance deadline.
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Cyber risk | Threat intelligence ?
Cyber Series: Attacks on financial sector expose millions of sensitive records
Most banks, stock exchanges and other financial institutions have robust cyber security measures in place – but threat actors tend to treat that as a challenge rather than a deterrent. The numerous third parties involved in the modern supply chain offer cyber criminals easier access to larger, more secure – and more lucrative – targets.?
In this month’s review,?Stephen Green, Threat Intelligence Lead, looks at the third-party?cyber attacks?in April that left the Department of Insurance, Securities and Banking and the London Stock Exchange Group exposed.
News and updates
Kuwait Clearing Company and Thomas Murray sign MoU to enhance cyber security cooperation
?????? ???????? ??????? and Thomas Murray have signed a Memorandum of Understanding (MoU) to deepen collaboration around cyber security, with the aim of strengthening cyber resilience in Kuwait’s Capital Market.?
The programme will establish a baseline for cyber security in the Kuwaiti market and will take a community-led approach to engaging with market participants to monitor and enhance the security posture of the market.?
The programme will be delivered by Maqasa in partnership with Thomas Murray, and will include:?
For more industry insights, check out our newsletters:
Cyber Series - Go behind the headlines with a weekly deep-dive into what’s shaping our digital world.
DORA Digest - Expert insights and analysis to help you on the DORA compliance journey.
Risk Committee Updates - Monthly highlights from our experts’ assessments of markets and entities.