SS2/21 is the PRA’s supervisory statement on outsourcing and third-party risk management. Its main scope covers UK banks, building societies and PRA-designated investment firms; insurance and reinsurance firms and groups in scope of Solvency II, including Lloyd’s and managing agents; and UK branches of overseas banks and insurers. It has been the working reference for…
A bank can hold a clean capital ratio, sit on more liquidity than it needs, and still be unable to open for business on a Monday morning. That gap between solvency and the ability to actually operate is where DORA AI risk reporting now lives. When a model your fraud team relied on starts approving…
DORA (Regulation (EU) 2022/2554) has been live since 17 January 2025. For Luxembourg fund administrators, UCITS management companies, and AIFMs, the question is no longer whether it applies to you. It does. The question is whether your implementation actually covers what the CSSF expects, or whether you have gaps disguised as compliance. Treating DORA as…