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A beacon for global standards in managing cyber-security risk: the UK financial services reforms of operational resilience and outsourcing

Laura Feldman

The seminar will explore recent developments in the regulation of operational resilience and outsourcing in the UK finance sector to assess whether the proposed new framework will provide a hallmark for governing cyber-security internationally and across other industries.

The reforms arise following high-profile IT failures in the finance sector, which resulted in Treasury Select Committee Inquiries and recommended reforms.  In light of these developments, the UK financial service regulators recently closed a consultation into proposed controls of operations and outsourcing in finance, which include changes that will reform standards for managing cyber-security.  The proposals are likely to form part of expected final policy statements to be announced later this year or during early 2021. The UK financial services regulators are leading in this area and the seminar will consider whether the proposals provide a benchmark for managing cyber-security risk across different sectors and globally.

MS Teams Meeting Link (no log-in required)

A draft slide deck for this seminar can be found here.

Speaker bio

Laura is a Visiting Professor at King’s College, Lecturer in Private Law at the University of Oxford and member of the Oxford Cyber Security Network. Alongside academic commitments, Laura is a barrister at Freshfields Bruckhaus Deringer LLP and assists with seminal and complex disputes covering a broad range of sectors. Laura has developed expertise in cyber-security with a focus on the financial services industry; she is currently working with UK Finance to develop the regulatory approach to managing cyber-security, operational resilience and outsourcing in the area.

The International Chamber of Commerce UK (ICC) identified Laura as a rising star within the finance sector, and she sits on the ICC UK Banking Committee and is the Coordinator/Chair of the ICC Young Finance Forum. The Panel of Recognised International Market Experts in Finance (P.R.I.M.E Finance) appointed Laura as a Special Rapporteur and Laura is a member of the International Swaps and Derivatives Association’s (ISDA) Arbitration and Financial Law Reform and the Commercial Court and Financial List User Committees. She is widely published in established legal texts, including acting as an editor of the commentary to the Civil Procedural Rules (i.e. the White Book) and publishing several articles in Butterworth’s Journal of International Banking and Financial Law and Thomson Reuter’s Journal of Banking and Finance Law and Practice.

Laura received a BA Honours in Jurisprudence from the University of Oxford and was presented with several awards and prizes during the course of her academic studies. The Middle Temple Inn awarded Laura the Astbury Scholarship and subsequently the Fox Scholarship to complete a LLM specialising in Commercial Law at the University of Toronto, in turn receiving a distinction and Fellowship from the University.

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