The Prudential Regulation Authority (PRA) is inviting comments on its proposals to modernize the regulatory framework on outsourcing and third-party risk management.   The proposals are outlined in the draft Supervisory Statement on Outsourcing and third-party risk management.  The objectives include complementing the policy proposals on operational resilience in CP29/19

The Bank of Israel (Bank) has published draft guidelines for the implementation of opening banking in Israel.     In order to increase transparency and access to information about the implementation, the Bank has established a designated portal (in Hebrew) on its website.   The portal will also serve as a

The Bank of Russia has indicated that the protection of retail investors in the financial market needs to be enhanced.   In moving this forward, the Bank recently discussed a draft law with stakeholders in the financial services industry.   Further details on the draft law are available.

The Finacial Services Authority has amended the Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Handbook.   The regulator introduced the amendments partly to reflect the Financial Action Task Force’s statement entitled ‘Improving AML/CFT Compliance: Update on Ongoing Process.’    Full details of the amendments are available here.  

The UK Prudential Regulation Authority (PRA) has imposed a combined fine of £43.9 million on Citigroup Global Markets Limited, Citibank N.A. London branch and Citibank Europe Plc UK branch (CEP UK) (together, Citi).   The fine was over Citi’s failings in relation to their internal controls and governance arrangements underpinning