Latest articles from Victor Smart

Martin Boer

FSB cybersecurity guidance dashes hopes for single global approach

The FSB’s cybersecurity guidance leans considerably on the work of US regulators, meaning that it differs from the EU approach, which makes it harder for a genuine global standard to evolve.

Matt Chan

Diverging approaches to IFRS 9 loan provisioning raise APAC fragmentation fears

Although there are common themes among approaches, Asia-Pacific regulators have been pursuing their own measures for how banks should provision for bad loans under IFRS 9, raising fears of further fragmentation. By Victor Smart 

Khaled Ghadban

Mass home working in financial sector is a clear market abuse threat

Banks have around 70-90% of their staff working at home because of the Covid-19 pandemic, which is a nightmare for compliance staff as a lot of activity is now far less supervised 

Hong Kong skyline

Surge in ESG initiatives threatens transition to sustainable economy

An explosion in ESG initiatives across the world is threatening the very goal they are trying to achieve, namely the move towards a more sustainable economy 

Nick Bayley

PRA Citi fine may be start of clampdown on big bank reporting failings

The big fine slapped on Citigroup for reporting failings by the UK’s PRA might be the start of a crackdown on other big banks struggling with their regulatory reporting 

Damon Batten

China seeks compliance with EU rules as it internationalises its benchmarks

As part of making their benchmarks internationally usable by regulated financial firms, Chinese providers are increasingly looking to comply with the EU benchmarks regulation as a stamp of approval

Bank of servers

US Congressional committee warned about cloud risks to banks

The rapid move by banks into the cloud has raised concerns with a US congressional committee where a hearing revealed the benefits and dangers of this trend

UN HQ

More banks rethinking their businesses in the face of climate change pressures

The clamour to address climate change is forcing banks to rethink their lending policies and to ponder new ways of assessing risk as they face growing pressure from regulators to go green. By Victor Smart.

Karen Cox

Australia’s relatively conservative bank reforms already facing some resistance

Australia’s recent banking scandals, very much rooted in conduct issues, triggered a series of fairly conservative regulatory reforms, but even these are facing some industry push back

David Biggin

UK consults over its regulatory regime as Brexit looms

The UK Treasury is consulting over certain aspects of the UK’s financial regime ahead of Brexit