Sturgeon Ventures highlights acronyms that may have passed you by in recent months – CTPs

Critical Third Parties (CTPs) is a term used regularly by Financial Services companies in relation to Outsourcing, continuing from their work on Operational Resilience last year.

The FCA and the PRA, and Bank of England Have released a further discussion paper on this last month https://www.fca.org.uk/news/press-releases/bank-england-pra-critical-third-parties-resilience-financial-sector. With the increase in Cyber Attacks it is imperative to continue to review.

One’s Cloud Service Provider (CSPs), and how they are protecting your Firm and your Clients’ Data; check out when they last did their own Penetration Tests as part of your CTP assessment.

These Papers can be read in conjunction with the focus on CTPs.

Readers with interest in CTPs should also read these documents

  1. Operational Resilience: Critical Third Parties Discussion Paper
  2. Supervisory Statement SS2/21 Outsourcing and third-party risk management
  3. Financial Stability Report Q3 2021: Building the resilience of the financial system
  4. Read the Financial Services and Markets Bill
  5. Find out more information about the FCA.

 

Sturgeon Ventures are the most established Regulatory Incubator, a trusted partner and venture catalyst. Providing nurturing and bespoke solutions, also known as a Regulatory Umbrella, Regulatory Hosting Platform or a Regulatory Ecosystem.

Sturgeon Ventures, with a presence in London, has incubated people and firms since 1999 and has been a family office wealth advisor since 1998.

We have been nominated and won many awards including most recently:

2022 – AI 2022 Worldwide Finance Awards Leading Regulated Incubator Services of the Year.

2021 – AI 2021 Worldwide Finance Awards – Regulatory Umbrella Hosting Service of the Year and Global 100 2021 Winner.

2020 – M&A Today Global Awards 2020 – Best Regulatory Incubator 2020 and ACQ5 Country Awards 2020 – UK Best Practice Operator of the Year (Regulatory Incubation).

2019 – Global 100 – 2019 Winner of Compliance Consultancy Advice on Start-up Issues – Adviser of the Year UK and ACQ5 Law Awards 2019 UK Compliance Firm of the Year.

2018 – Lawyer International Global Awards 2018, Best Regulatory Incubator 2018 & FinServ Game Changer Innovation Award 2018.

As the most established Regulatory Incubator, Sturgeon Ventures takes it’s position in the market seriously and are proud to have signed up to HM Treasury’s Women in Finance Charter, since the start of this initiative in July 2016, alongside being a Corporate Sponsor of the CISI, a signatory to the Principles of Responsible Investment body and investing in top class regulatory technology for it’s team.

Its founder, Seonaid Mackenzie, has also written a contributing chapter in “Successfully Launching A Hedge Fund In Europe: Practical Guidance For New Managers” on the subject of pioneering Regulatory Incubation and contributed to industry publications such as Acquisition International and The Corporate Financier.

To read more on the scope of our awards of the years, please visit our awards page.