Spotlight on New Outsourcing Rules and Operational Resilience

This webinar will provide an overview of the new cross-sectoral outsourcing guidelines being proposed by the Central Bank of Ireland as part of Consultation Paper 138 and how they will impact on regulated firms, including the key steps regulated firms will need to take to comply with these new rules, which supplement existing sector-specific outsourcing requirements. We will also discuss operational resilience as a key supervisory priority for 2021 and drill down into regulatory expectations and challenges faced by firms managing operational risk during the ongoing Covid-19 pandemic. Delivering this as a combined session to cover Regulatory and Commercial, Data and Technology issues which arise will provide a practical overview with useful tips for members. Finally we will touch on the European proposal to introduce a new regulation on digital operational resilience for the financial sector (DORA).

 

Title: Spotlight on New Outsourcing Rules and Operational Resilience
Date: Tuesday, 20th April, 2021
Speaker: Lorna Smith, Partner, Financial Services Regulatory Group at Maples Group, Dublin
Claire Morrissey, Partner and Head of the Commercial, Data and Technology Group at Maples Group, Dublin
Alison Gibney, Senior Regulatory Executive, Financial Services Regulatory Group at Maples Group, Dublin
Venue: Webinar
Time: 12:00 – 13:00
CPD: 1 Hour LCOI and FCOI (Compliance)
Fee: €25 members, €35 non-members

 

Speaker:

Lorna Smith, Partner, Financial Services Regulatory Group at Maples Group, Dublin
Lorna Smith is a Partner in the Dublin Financial Services Regulatory team at Maples and Calder, the Maples Group's law firm. Lorna has over 10 years' experience in financial services regulation, and in addition to more traditional industries like banking, insurance and investment services, Lorna’s practice also focuses on growth sectors such as fintech, alternative lending and sustainable finance.
Lorna guides new financial institutions establishing in Ireland, across all industry sectors including MiFID investment firms and fund service providers, banks, insurers, emoney and payment firms, and credit servicing and retail credit firms. She also regularly advises on the transfer of regulated businesses, including regulatory due diligence.
Lorna advises firms on their ongoing regulatory obligations, including remuneration and corporate governance, outsourcing, fitness and probity, anti-money laundering, capital management, and industry-specific conduct of business and investor protection requirements.
Lorna helps clients manage regulatory engagement, both in a supervisory and enforcement context, and implement new requirements and robust compliance frameworks. She - has conducted comprehensive gap analyses and assurance reviews to manage regulatory risk, including working on Risk Mitigation Programmes, inspection remediation, and industry-wide reviews such as the Tracker Mortgage Examination.
Lorna joined the Maples Group as a Partner in 2021, having previously worked at large Irish law and accountancy firms.
Lorna is a member of the Council of the Fintech and Payments Association of Ireland and Co-Chair of its Regulatory Insights Group. Lorna is a member of the Association of Compliance Officers of Ireland, Irish Funds and the Law Society of Ireland.

Claire Morrissey, Partner and Head of the Commercial, Data and Technology Group at Maples Group, Dublin
Claire is head of the Dublin Data, Commercial and Technology practice at Maples and Calder, the Maples Group’s law firm. Claire is a leading adviser on data, technology and commercial contracts. She has a particular focus on GDPR compliance and investigations, emerging technologies and complex sourcing projects. Claire also regularly advises on the technology, IP and data aspects of joint ventures and mergers & acquisitions.
Claire’s recent data experience includes advising on GDPR compliance, data transfers, data protection complaints and investigations and data breach management across all sectors including, in particular, financial services and technology. She has advised on a wide range of commercial contracts including IT contracts and major outsourcings in the financial services sector, intellectual property transfers and licensing, software development, distribution and R&D agreements.
Claire joined the Maples Group as Partner and head of the Dublin Data, Commercial and Technology practice in 2020. She was previously a Partner at another Irish law firm and before that, worked at a leading Magic Circle firm in London.
Claire is highly recommended in a number of top-tier independent legal directories as ‘practical and responsive‘ (The Legal 500, 2020), ‘technically excellent’ (Chambers Europe, 2018) and ‘meticulous in her analysis and extremely responsive’ (Managing Intellectual Property 2017). She was also the only Irish lawyer to be listed in the prestigious '40 under 40' 2018 Global Data Review.

Alison Gibney, Senior Regulatory Executive, Financial Services Regulatory Group at Maples Group, Dublin
Alison is a Senior Regulatory Executive in the Irish Financial Services Regulatory team at Maples and Calder, the Maples Group's law firm. Alison has over 8 years' experience as a compliance and regulatory professional within the financial services industry. Alison's particular focus is the provision of technical expertise, assisting clients across all industry sectors including AIFMs and UCITS management companies, MiFID investment firms and fund service providers, banks, insurers, e-money and payment firms, and credit servicing and retail credit firms. Alison has a strong practical knowledge of regulation and guidance across a number of core areas, including corporate governance, anti-money laundering, data protection, culture and fitness and probity, cyber security, MiFID, UCITS, AIFMD and KIIDs. Alison also advises on authorisations, top-up permissions and change of control notifications for regulated firms.
Alison supports clients in dealing with the regulator, advising on day-to-day compliance queries, drafting and implementing robust compliance frameworks and providing training sessions on key themes to boards and senior management. She also works with the broader team to manage upstream regulation and publish client updates on key regulatory changes.
Alison joined the Financial Services Regulatory team at the Maples Group in November 2017 having previously worked at Euronext Dublin (formerly the Irish Stock Exchange) and a Dublin-based asset management firm.
Alison is a member of the Association of Compliance Officers of Ireland, Irish Funds and the Institute of Banking. She is also a member of the Alternative Investment Management Association's Digital Assets Working Group.

When
4/20/2021 12:00 PM - 1:00 PM
GMT Daylight Time

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