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FCA Regulatory Update – May 2021

Operational resilience: preparing for the switch from analogue to digital phone lines

The current analogue phone network will be switched off across the UK at the end of 2025 as we transfer over to a digital phone network, delivered through Voice over IP (VoIP).

This is a major change to the UK’s telecoms networks and will affect anything that currently plugs into existing analogue telephone wall sockets. Firms should be making plans to ensure there is no disruption to the services they provide.

Clink the link to find out more about the switch: https://www.futureofvoice.co.uk/

Latest industry insights on cyber security published

The FCA have published their latest cyber security industry insights, which draws on the knowledge of industry collaboration groups over the past year.

Click the link to read the insights here: https://www.fca.org.uk/publications/research/insights-cyber-coordination-groups-2020

The FCA want to help firms become more resilient to operational disruptions and to reduce the risk and frequency of disruption.

The publication discusses cyber security trends from the last year, such as the additional strain remote working has placed on cyber security teams and systems, adding to the threat posed by ransomware, supply chain security and insider threats.

Disclaimer

The contents of this article are taken from the Financial Conduct Authority’s (“FCA”) 20th May 2021 regulation round up communication and are communicated by, and the property of, Thornbridge. Thornbridge is a trading name of Thornbridge Investment Management LLP which is authorised and regulated by the Financial Conduct Authority.

The information and opinions contained in this article are subject to updating and verification and may be subject to amendment. No representation, warranty, or undertaking, express or limited, is given as to the accuracy or completeness of the information or opinions contained in this article by Thornbridge Investment Management LLP or its directors. No liability is accepted by such persons for the accuracy or completeness of any information or opinions. As such, no reliance may be placed for any purpose on the information and opinions contained in this article.

You can read more FCA regulatory updates here:

April FCA regulatory update

March FCA regulatory update

February FCA regulatory update

January FCA regulatory update