Reporting and GovernanceRSS
Lael Brainard

Fed’s Brainard calls for regulators to set expectations over AI use

Regulators must provide appropriate expectations and adjust them as the use of artificial intelligence (AI) in financial services and the understanding of its potential risks evolves, said US Federal Reserve governor Lael Brainard, adding that there is likely to be a public consultation on the issue from the federal agencies.

DSB consults on UPI fee model

The Derivatives Service Bureau (DSB) has launched a first consultation on the principles governing its fee model for its upcoming Unique Product Identifier (UPI) service

ORX driving collaboration among financial firms to fight cyber risk

The Operational Riskdata Exchange Association (ORX) is attempting to foster greater understanding and collaboration among financial firms to safeguard against the growing array of cyber threats.

IOSCO supports setting up board to promote sustainability in capital markets

Establishing a Sustainability Standards Board (SSB) has won the support of the International Organization of Securities Commissions (IOSCO) to help promote consistency and comparability across capital markets and to reduce the risk of fragmentation around sustainability disclosures.

AMF/AFM propose EU ESG framework

A joint framework proposed by market regulators in France and the Netherlands, aimed at greening the EU economy, could become a core part of the European Commission’s sustainable finance strategy.

Covid, recession and Brexit to influence UK regulation in 2021

Significant macroeconomic headwinds including a Covid-19-induced recession, mounting debt and the end of the Brexit transition period will impact all areas of financial services in 2021, meaning plenty more work for compliance departments over the course of 2021. By Frank Brown, risk and transformation practice lead at Bovill.

2021

Global regulation in 2021: reaction, reflection and a return to priorities

The year 2020 defied expectations and saw disruption to both financial markets and regulatory agendas. As the world recovers, 2021 is shaping up to be defined by continued regulatory reactions to the Covid-19 pandemic, and geopolitical changes such as the UK’s exit from the EU. 

Seismic changes

Financial firms will have to adapt to seismic changes this year

The year 2020 generated seismic shifts in the structure of markets, ways of working, the landscape of risks and paths of recovery. Harnessing these requires firms to prioritise a purposeful recovery, resilience and restructuring in the year ahead. By Adam Markson, head of UK and Ireland risk practice at Accenture.

OCC criticised over climate change stance

A formal comment was submitted to the Office of the Comptroller of the Currency (OCC) by Ceres, claiming the agency is fundamentally misrepresenting climate risk management, and warned that it could endanger the country’s banking system and economy. 

ECB could pivot QE programme away from carbon-intensive companies

Economists believe that the European Central Bank (ECB) is set to pivot its quantitative easing programme by ceasing to purchase bonds issued by fossil fuel-intensive companies as part of a pioneering approach towards  climate change.