The insolvency of a key supplier can have a significant (and potentially catastrophic) impact on a customer’s business. It can affect the customer’s ability to meet obligations it owes to its customers and other counterparties as well as regulatory requirements. All customers should ensure that they have robust internal processes
Continue Reading Managing Supplier Financial Distress – Contractual Protections for CustomersNichola Donovan
Operational Resilience: Update
EU – Publication of DORA
The EU Digital Operational Resilience Act (DORA) has now been published (on 27 December 2022) and entered into force on 16 January 2023.
There will be a 24 month implementation period. Therefore, DORA will apply from 17 January 2025 in all EU Member…
Continue Reading Operational Resilience: UpdateNegotiating InsurTech agreements: checklist
The original version of the following checklist of the main issues to consider when drafting and negotiating technology agreements for the insurance sector was produced by Anthony Day, Partner and Nichola Donovan, Legal Director of DLA Piper for Practical Law and can also be found here.
Scope
…
Continue Reading Negotiating InsurTech agreements: checklist
UK Financial Conduct Authority new three-year strategy
The UK’s Financial Conduct Authority/FCA has recently published its three-year strategy for 2022-2025 to improve outcomes for consumers and in markets throughout the UK.
For the first time the strategy sets out the outcomes that the FCA expects from businesses across all markets. To guard against inconsistent regulation the FCA’s…
Continue Reading UK Financial Conduct Authority new three-year strategy