Reporting and GovernanceRSS
Kerem Tomak

Banks turn to increasingly sophisticated technology to fend off hackers

The battle between hackers and banks is very unequal, with the former often able to perform their attacks anonymously at little cost. For banks, much is at stake from reputation to profitability and they are having to marshal increasingly sophisticated tools to defend their moats.

FSB consults on cyber incident reporting

Growing geopolitical risks and interconnectedness within the financial system is exposing the industry to greater risks of disruptive cyber events, the Financial Stability Board (FSB) warned on October 17 as it set out proposals to tackle reporting on the issue.

Michael Barnett Quillon Law

Could removing bankers’ bonus caps lead to another financial crisis?

While scrapping bonus caps is unlikely to result in another financial crisis in itself, the change in the way bankers are remunerated must come with safeguards to avoid any potential repeat of a culture of excessive risk-taking.

SEC modernises securities swaps related reporting requirements

The prompt production and recording of electronic information relating to securities swaps is to be modernised following an amendment adopted by the Securities and Exchange Commission (SEC).

Traditional risk management approaches can contain digital asset risks

Proven risk management and regulatory approaches can do the job of overseeing digital assets meaning there is little need to invent new processes, said EY in a report published on September 30.

DSB welcomes EU move to make UPIs law

According to the EU’s Official Journal, the use of the Unique Product Identifier (UPI) is to be embedded into the bloc’s law – a move welcomed by the Derivatives Service Bureau (DSB). 

Wind and solar power

Finance Watch calls for higher capital requirements as EU banks hold $239bn in fossil fuel exposures

Large EU banks hold $239bn in fossil fuel exposures according to the non-government organisation (NGO) Finance Watch, which is warning that they pose a financial stability risk if they become stranded assets. 

Chris Warhurst

Rising unpredictability requires greater awareness of potential model deterioration

Fintech lenders aim to challenge and disrupt the standard lending model offered by high street banks through greater user experience. To facilitate this, the organisations are often lean in structure, especially in relation to overheads that are seen as bureaucracy or blockages to agility and speed.

Fed seeks comments on strengthening financial market utilities

Feedback on updates to operational risk-management requirements for certain systemically important financial market utilities (FMUs) is being sought by the US Federal Reserve Board and focuses on four areas. 

UK to investigate cloud operators over market dominance

The leading cloud providers are to be investigated in the UK over their marketing practices as their market share in the country, which has risen to 81% from 70% in 2018.