For nine years, Risk in Focus has been the trusted resource for internal auditors to shape their risk assessments, annual plans, and audit strategies. The 2025 report reveals a fast-approaching wave of digital disruption, AI advancements, and interconnected risks like never before. Continue reading…

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, will be supporting the European Commission’s objective to simplify and reduce the reporting burden in the financial sector. The ESMA Board of Supervisors discussed in December 2024 how to best contribute to efficient simplification and burden reduction actions, while preserving the main objectives of financial stability, orderly markets and investor protection. Continue reading…

Nearly 20,000 financial promotions were withdrawn or amended in 2024 following intervention from the FCA – nearly double the amount in 2023. The regulator has highlighted concerns with cryptoasset, debt solutions, and claims management company (CMC) promotions. 9,197 CMC promotions were withdrawn in 2024. Many of these promotions were related to housing disrepair and motor finance claims targeted at vulnerable consumers. Continue reading…

Cooperation with countries outside the European Union to fight impunity for war crimes, genocide and crimes against humanity will be bolstered by a dedicated new project launched today at Eurojust. This should lead to fewer ‘safe havens’ for perpetrators of such core international crimes. The collaboration with civil society organisations (CSOs) and coordination of their efforts can also be strengthened via this four-year National Authorities against Impunity Project (IMPNA). Continue reading…

The Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of the Basel Committee on Banking Supervision, met on 4 February to endorse the Committee’s work programme and strategic priorities for 2025-26. Continue reading…

In the past month, Rupert Bedell (CEO at Fasthosts) and Georges-Olivier Reymond (Co-founder and Co-CEO at Pasqal), commented on the UK Government AI Opportunities Action Plan. Rupert addresses the critical role data centres play in realising the plan’s ambitions and the importance of embedding sustainability into this infrastructure. Georges-Olivier discusses that, whilst the plan holds promise, it raises concerns about its underlying infrastructure as quantum computing is notably absent from the discussion. You can find the full comments from them below. Continue reading…

The latest Eurobarometer survey on ‘European citizens’ knowledge and attitudes towards science and technology’ released shows more than 8 in 10 citizens (83%) think that the overall influence of science and technology is positive. Two-thirds of respondents (67%) equally agree that science and technology make our lives easier, healthier and more comfortable. Respondents are most likely to think that renewable energies (87%), information and communication technology (79%) and vaccines and combatting infectious diseases (77%) will have a positive effect on our way of life in the next 20 years. Continue reading…

An international investigation spanning several years has led to the arrest of 23 criminals running a sophisticated money laundering scheme. The group acted as a financial service for other criminals to launder their profits. The scheme facilitated the laundering of approximately EUR 100 million. An international coalition of Spanish, Cypriot and German authorities, with support of the French authorities and Eurojust and Europol, was established to dismantle the group. The takedown resulted in the seizure of over EUR 8 million in cash and the freezing of EUR 27 million in cryptocurrencies. Continue reading…

The International Association of Insurance Supervisors (IAIS) has published its Roadmap 2025-2026, the first under the new IAIS Strategic Plan 2025-2029. The Roadmap outlines the projects and activities the IAIS will undertake in support of its four core objectives – namely to:

Monitor and respond to key risks and trends in the global insurance sector; Set and maintain globally recognised standards for supervision that are effective and proportionate; Support members by sharing good supervisory practices, promoting understanding of supervisory issues and facilitating capacity building; and Assess comprehensive and globally consistent implementation of global standards.

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by Olli Rehn

Distinguished Guests, Ladies and Gentlemen, Dear Friends, let me start by thanking the Hong Kong Monetary Authority for hosting this topical and thought-provoking conference. Discussing the changing global economy in “Asia’s World City” is, of course, very appropriate. As the title of the conference implies, the global economy is undergoing a transformation. In my talk today I would like to address a key aspect of this transformation, namely decoupling and fragmentation in the global economy. Is there evidence of geoeconomic fragmentation in the global trade and investment data? Or is global trade simply following the same trajectory as global economic output? There is, of course, an important difference between the paths of global trade and global output. Continue reading…