The ECB is investigating launching a digital euro to future-proof the single currency and to defend its sovereignty. But creating a new form of money that is poorly calibrated poses substantial risks to the liquidity of deposit-takers.
Record-keeping failures land financial firms with $1.8bn fines
The longstanding and widespread failure to properly record business communications has landed a large number of financial firms with fines totalling $1.8bn from two US federal agencies.
Fed to conduct pilot climate stress test on biggest banks
Six of the largest banks in the US are to participate in a pilot climate scenario analysis to help supervisors and firms to better manage climate-related financial risks.
Pay-for-order flow wins reprieve from the SEC
The controversial practice of paying for order flow (PFOF) in the US equities market will not be banned by the Securities and Exchange Commission (SEC), but that does not necessarily mean the activity is off the hook.
Barr outlines tougher Fed approach to supervising big banks
Banks in the US face potentially tougher rules or at least a more stringent interpretation of existing frameworks, according to the Federal Reserve Board’s new head of regulation.
New ‘controls library’ launched so banks can benchmark operational risk practices
A controls library for operational risk has been launched by the Operational Riskdata eXchange (ORX) and consulting firm Mckinsey & Co and is designed to support the understanding and benchmarking of risk controls within banks.
ASIFMA paper advises listed companies to pay closer attention to labour relations
Companies and investors should engage with each other on ESG matters and the managements of listed companies need to stay on top of labour issues, according to a paper published in Hong Kong for asset managers.
CPMI-IOSCO highlights challenges around new clearing models
Though clearing transactions for indirect participants is a key objective of the G20, there are nonetheless challenges around risk management processes related to new access models.
Digital currencies inject new possibilities into cross-border payments
There are good reasons for most countries to improve cross-border payment efficiencies, however that desire is complicated by technical and legal issues. But new forms of digital money potentially open up some interesting new channels.
Mauritius aims to become a leading African financial hub
Through a unique combination of trade agreements, Mauritius is positioning itself as a conduit for international investment into Africa while pivoting its regulatory regime towards becoming more attractive to institutional funds.
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