The Financial Conduct Authority (FCA) has published its final instruments and guidance that will apply in the event the UK leaves the EU without a deal or an implementation period. As the UK prepares to leave the EU, the FCA has been working to deliver a transition that is as smooth as possible. The package of documents published contains the majority of the final instruments and guidance, following the February publication of the FCA’s Policy Statement with near-final instruments.
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Following the support from Heads of State or Government expressed at the European Council on 22 March for a concerted approach to the security of 5G networks, the European Commission recommended a set of concrete actions to assess cybersecurity risks of 5G networks and to strengthen preventive measures. The recommendations are a combination of legislative and policy instruments meant to protect our economies, societies and democratic systems. With worldwide 5G revenues estimated at €225 billion in 2025, 5G is a key asset for Europe to compete in the global market and its cybersecurity is crucial for ensuring the strategic autonomy of the Union.
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The Financial Stability Board (FSB) today published the Global Monitoring Report on Non-Bank Financial Intermediation 2018. The report presents the results of the FSB’s eighth annual monitoring exercise that assesses global trends and risks from non-bank financial intermediation. It covers data up to end-2017 from 29 jurisdictions, which together represent over 80% of global GDP.
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The Commission has kick-started the debate on reforming decision-making for areas of EU taxation policy, which currently requires unanimity among Member States. This unanimity often cannot be achieved on crucial tax initiatives, and can lead to costly delays on sub-optimal policies. The Communication published today suggests a roadmap for a progressive and targeted transition to qualified majority voting under the ordinary legislative procedure in certain areas of shared EU taxation policy, as is already the case with most other EU policy areas. This possibility is envisaged by the EU Treaties.
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“Failing to take CSR seriously is a risk in itself”, says CEO. Airmic has put corporate social responsibility (CSR) firmly on the risk management agenda and urged its members to recognise their CSR colleagues as “valuable allies” in creating a resilient business. “Boardrooms increasingly recognise that a strong approach to corporate social responsibility is not just a good thing to do – it’s a business imperative,” Airmic’s CEO John Ludlow said. “But not enough risk professionals recognise they have an important role to play in supporting their business achieve its CSR objectives.”
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With just over three months until the UK exits the EU, the government has made preparing for a no-deal an operational priority and has issued advice to businesses urging them to be prepared. The following article is an extract from Airmic’s briefing paper on this development. How is the UK government preparing for a no-deal? The government has committed to prioritising stability for citizens, consumers and businesses, to ensure the smooth operation of business, infrastructure and public services and to minimise any disruption to the economy in the event of a no-deal.
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by Dina-Perla Portnaar

Recently, I wrote the article Why organisations need a Chief Spiritual Officer. From the higher consciousness community, I received praise, support and above all confirmation through recognition. For example: “kind of something that you dare to go public with this idea in the Dutch business world, but I so agree”. From the business world, there were a number of critical reactions: should managers and professionals not just use common sense? Is this bla bla or spiritual garbage? Finally, should there be a separate function for meaning and personal growth, similar to the Chief Happiness Officers we have and others?
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by Ryan Lucs

The Justice Department announced charges against two alleged hackers suspected of working on the orders of the Chinese government as part what the U.S. alleges is a long-running effort to steal American intellectual property. The charges were part of a broader move by the Trump administration to push back against what U.S. officials describe as China’s relentless drive to steal American business secrets. The two men, Zhu Hua and Zhang Shilong, are part of a “hacking group” known as Advanced Persistent Threat 10, according to an indictment unsealed in the Southern District of New York.
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Delivering on its strategy on artificial intelligence adopted in April 2018, the Commission presented a coordinated plan prepared with Member States to foster the development and use of artificial intelligence in Europe. This plan proposes joint actions for closer and more efficient cooperation between Member States, Norway, Switzerland and the Commission in four key areas: increasing investment, making more data available, fostering talent and ensuring trust. Stronger coordination is essential for Europe to become the world-leading region for developing and deploying cutting-edge, ethical and secure artificial intelligence.
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The Basel Committee on Banking Supervision published further information related to its 2018 assessment of global systemically important banks (G-SIBs), including additional details to help understand the scoring methodology.
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