Outsourcing and regulatory changes: Risk impact on asset managers

How to increase tech security

clock • 2 min read

As asset managers update old technologies, how can they ensure they are covered against breaches when using outsourcing for research and data? Steve Ellis, partner at JLT Specialty's financial institutions practice explores the options.

The introduction of the General Data Protection Regulation (GDPR) and the Markets in Financial Instruments Directive II (MiFID II) in 2018 increased scrutiny for asset management companies and raised the cost of a data breach substantially, making risk management more pertinent than ever before.  The five tech risks that can be an opportunity for wealth firms Outsourcing risks As a result of MiFID II, asset managers have the added expense of outsourcing their research functions to external administrators. But who is responsible for protecting client data? Contrary to popular beli...

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