Navigating Through EU Outsourcing Regulations when Considering Cloud Migration of Services

Sofia Skroubi, Senior Associate General Counsel, Nasdaq , Sweden

Financial Entities (FEs) outsource their information and communication technology services (ICT services) to cloud service providers (CSPs) to increase operational efficiencies by streamlining back office operations and reducing costs by removing administrative overhead.

Sofia Skroubi has an LLB, Hons in English & European Laws and a Masters (LLM) on International Trade Law & Finance, from Essex University and she holds an HNC in Business & Finance. She is admitted as a Solicitor of the Senior Courts of England & Wales and as an Attorney at Law of the Athens Bar Association. Sofia is a certified full Member of the Chartered Institute of Securities & Investments (CISI) since 2015. She is also a member of the Foreign Lawyers in Sweden network. She started her career in private practice as an asset finance Associate, specializing mainly in shipping finance. She moved in-house in 2006 as a financial services lawyer, initially with J P Morgan Chase Bank and later with the Bank of New York Mellon and HSBC Bank. She has held various senior positions within legal teams, specialising in securities services and specifically: global custody and clearing, network management, triparty and derivatives collateral management, securities financing, and liquidity management. Throughout the years she was primarily based in London, however also supported business activities in New York, Asia, and Paris, with relevant on-site secondments. She is currently based in Stockholm and employed by Nasdaq as a Senior Associate General Counsel and leading from a legal perspective on EU cloud initiatives across all Nasdaq EU regulated entities.

Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Nasdaq within the EU operates stock exchanges, regional central securities depositories, a clearing house and a registrar of a pensions registry, providing the capital market infrastructure across the whole value chain ‒ from listing, trading, and market data to clearing and settlement and safe-keeping of securities. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com