Rapid digitisation is forcing the EU back to the drawing board to shore up its financial regulatory framework and avoid ending up riddled with loopholes for new types of players to exploit.

Western sanctions threaten Russian banking crisis
Following Russia’s invasion of Ukraine, the West and its allies have unleashed a tsunami of financial sanctions against Russia – the harshest ever on a G20 nation – leaving banks on both sides stuck in the crossfire.
GHOS reaffirms commitment to Basel III and discusses appointments
The implementation of the finalised Basel III framework has been given full backing by the Governors and Heads of Supervision (GHOS) while Pablo Hernández de Cos has been reappointed as chair of the Basel Committee on Banking Supervision.
US-UK regulators discuss resolution of unnamed CCP
The resolution of an unnamed central counterparty clearing house (CCP) was discussed at a virtual meeting between senior US and UK regulators on February 8 with the two sides agreeing to maintain their dialogue and share analyses on such issues
Cœuré leaves BIS to join France’s competition authority
Benoît Cœuré, who heads the Bank for International Settlements (BIS) Innovation Hub is to become president of Autorité de la Concurrence, France’s competition authority, following approval by the country’s parliament on January 12.

IIF calls on FSB to minimise market fragmentation
When pursuing regulatory initiatives, the Financial Stability Board (FSB) should aim to reduce market fragmentation as much as possible, said the Institute of International Finance (IIF).
Neil Esho is new secretary general of the Basel Committee on Banking Supervision
Neil Esho has been appointed secretary general of the Basel Committee on Banking Supervision and takes over from Carolyn Rogers who took up the post of senior deputy governor at the Bank of Canada on December 15, 2021.
Fed regulatory appointee promises tough stance on banks
Sarah Raskin, the nominee for the post of vice chair of supervision at the Federal Reserve, promises to take a tough stance on banks should she be appointed to the post.
BIS Innovation hub adds CBDCs, DeFi and payment systems to project list
New projects centred on central bank digital currencies (CBDCs), next generation payments systems and decentralised finance (DeFi) are to be added to the list of areas the Bank for International Settlements (BIS) Innovation Hub will focus on this year.
Villeroy de Galhau elected as chair of the BIS
François Villeroy de Galhau, governor of the Bank of France, has been elected to chair the Bank for International Settlements (BIS) for a term of three years that started on January 12.