Regulatory Alerts2023-11-10
Joint Communication 4 of 2023 – IT Governance and Risk Management Standard
The Financial Sector Conduct Authority and Prudential Authority have published Joint Standard 1 of 2023 to establish binding principles for IT governance and risk management across financial institutions. Following extensive public consultation and parliamentary approval, the standard mandates compliance with sound IT risk practices to ensure operational resilience. The regulatory framework officially commences on 15 November 2024, with supporting documentation and consultation reports available on the Authorities' websites.
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